Qooore will make Young People Approach Investing Differently
Since COVID started, a new complication has arisen for millennials who are trying to enter the job market.
Even before the pandemic, millennials were considered the “Unluckiest Generation,” as they felt many impacts of the new technological age, including the 2008 recession. Millennials are in an especially tough spot. They are the most impacted by the drop of the job market and overall have no accumulated wealth compared to previous generations. Young people were already in distress, and COVID-19 just became a significant economic disaster for them.
At the same time, COVID-19 boosted digital transformation attaching millions of people to screens on a level unseen before. At the same time, tech giants showed record growth and phenomenal earnings, with their stocks reaching all time highs. On the other hand, with the rise of popular platforms such as Facebook, TikTok, Snapchat, Instagram, and many others, young people and the entire world are acquiring new behavioral patterns. The intuitive behavior to swipe up or down became the new norm.
But when we are thinking about financial markets, bonds, or stocks, we think of graphs, pie charts, and other complicated instruments, that have nothing to do with a swipe up. They are not intuitive for younger generations. All those instruments are considered hard to understand and push them away from investing in stock or bond markets and understanding how to manage their assets.
One such company, Qooore, has come up with a solution. The company caters mostly to millennials and Generation Z’s, redefining financial education in a very user-friendly way, allowing its users to learn by swiping up or down, with highly interactive content.
This new startup is taking advantage of the booming AI technology providing the most advanced analytics and investment data to new users of the app. Qooore’s mission is to help turn millennials into the smartest trading generation ever.
Igor Sheremet and Stas Khudiakov are the co-founders of the project. They decided to combine the familiar millennial approach of browsing social media with investing in financial markets. “We believe that anyone can make smart investments. To do that, it is unnecessary to graduate from Harvard or study fundamental and technical analysis. We are tired of losing to Wall Street wolves. We are exhausted from watching them take all the money. Gen Z money. That is why we decided to rewrite the rules and make the investment process in a Generation Z friendly way, available to everyone.”
With the Qooore app, users can buy shares of the most popular companies and learn how to make smart investments. An insight’s generation of technology has been added explicitly to the app to show how to interact with the market according to stock analysts and young people’s opinions.
The gamification part of the app consists of raffles, rewards, and achievements. Therefore, any person with a smart phone can invest and be entertained.
Qooore’s philosophy is to limit users’ trading opportunities until they prove that they can professionally trade on more complex instruments. Users will not receive any marginal trading or complex financial instruments. They will even be limited by the number of shares they can invest in. The Qooore app will always test users to educate and protect them. As soon as users begin to build up, the app will allow trading with more professional instruments. It is a protection against mistakes.
“We believe that we are in the right place and at the right time. Fintech is considered as one of the fastest-growing areas right now. The current market leaders cannot adjust fast enough to meet the current post-COVID-19 dynamic trends to stay put. They will remain boring, old, and clumsy. Classical trading brokers and even companies such as Robinhood did not pay attention to the mobile apps trends and user’s behavior for a long time. We are way above and beyond any current fintech, because we are hungry for success and excited to bring the most innovative ideas to young people, and we welcome everyone on board,” Stas Khudiakov says.