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- Snowball Finance
Snowball Finance Valuation, Funding & Investors
Snowball Finance is valued at $450M as of December 2020.
Last Snowball Finance valuation
$450M
Series E · Dec 2020
Last Snowball Finance funding round
$120M
Series E · Dec 2020
Cumulative funding Snowball Finance raised
$290M
across 4 funding rounds
Key investors in Snowball Finance
5Y Capital
HSG
Ant Group
Moatable
Orchid Asia Group Management
Morningside Private Investors
About Snowball Finance
Snowball Finance is a Beijing-headquartered online investment community operating xueqiu.com, a platform covering A-shares, Hong Kong stocks, and U.S. equities with data tools, newsletters, and social forums. The site serves over 10 million registered users including iMeigu.com for Chinese U.S. stock investors. Snowball Finance hosts virtual investor conferences and integrates with brokers like Tiger Securities.
Founded
2010
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Advertising
Valuation
$450M (Dec 2020)
Snowball Finance Valuation
Snowball Finance is currently valued at $450M, based on its Series E in December 2020.
The $120M round was led by Orchid Asia Group Management.
Snowball Finance's valuation has moved from $500M at its Series D in July 2018 to $450M in December 2020, across 2 priced rounds.
Snowball Finance valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Dec 2020 | Series E | $450M |
| Jul 2018 | Series D | $500M |
Snowball Finance Funding History
Snowball Finance has raised a total of $290M across 4 funding rounds.
Snowball Finance's first fundraising round was a $10M Series B in June 2013. The most recent completed round was a $120M Series E in December 2020.
Snowball Finance funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2020 | Series E | Orchid Asia Group Management (lead) | $120M | $450M | Snowball Finance (Xueqiu) is a Chinese internet financial information provider founded in 2010 by Nan Li that focuses on cross-border investment data and wealth management services. The platform delivers real-time market information, data, and analysis for Hong Kong and US stock markets, enabling users to invest in bonds, funds, trusts, and cryptocurrency. It serves both retail consumers and institutions with regulated investment software. On December 5, 2020, Snowball closed its Series E funding round, raising $120 million exclusively from Orchid Asia Group Management, a private equity firm with $6 billion in assets under management. The transaction was facilitated by investment bank UBS Group. Prior to this round, Snowball had raised over $170 million across four previous funding rounds, including $120 million from Ant Group in the Series D round in 2018, $40 million from Renren in the 2014 Series C round, $10 million from Sequoia Capital and 5Y Capital in 2013, and $3 million from Sequoia Capital in 2011. The Series E proceeds were allocated toward upgrading its financial information services and online wealth management platform, expanding headcount, and enhancing its product offering. Sources indicate the company's valuation was reported in the $400–500 million range following the 2018 Series D round; this valuation remained relevant to the 2020 Series E round per available reporting. |
| Jul 2018 | Series D | Ant Group (lead) | $120M | $500M | Snowball Finance is a Beijing-based social investment platform, also known as Xueqiu, providing real-time cross-border market information, data, analysis, and regulated investment software for consumers and institutions covering Hong Kong and US stock markets. It offers tailored investment strategies supporting over 4,500 public fund subscriptions, more than 200 private placements for high-net-worth individuals, and advanced trading functions for stocks and options amid China's IPO wave. The online community grew to 12 million monthly active users by mid-2018 from 700,000-1 million in 2015. In July 2018, Snowball Finance raised $120 million in a Series D round led by Ant Group (then Ant Financial), marking its largest financing to date and bringing total funding to approximately $173 million across four rounds, with prior investors including Sequoia China and Morningside Capital. The post-money valuation was reported at $400-500 million. Proceeds were allocated to product development, improving the trading system, talent recruitment, and enhancing user experience for cross-market trading, as part of its 'Internet + asset management' model launched in late 2015. The partnership with Ant Financial aimed to bolster Snowball's wealth management services and reach more consumers. Subsequent developments included a Series E round of $120 million in December 2020 from Orchid Asia Group, bringing total funding to $293.2 million across six rounds, and plans for a $300 million US IPO announced later. |
| Sep 2014 | Series C | Moatable (lead); Morningside Private Investors; 5Y Capital | $40M | - | - |
| Jun 2013 | Series B | 5Y Capital (lead); HSG (lead) | $10M | - | - |
Who has invested in Snowball Finance?
6 investors have backed Snowball Finance across its funding rounds, including 5Y Capital, HSG, Ant Group, Moatable, Orchid Asia Group Management and Morningside Private Investors.
Lead investors include Orchid Asia Group Management, Ant Group, Moatable, 5Y Capital and HSG.
Snowball Finance Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jun 2013 | ||
| 1 | Participant | Sep 2014 | ||
| 1 | Lead | Jul 2018 | ||
| 1 | Lead | Sep 2014 | ||
This data is available for Pro users. Sign up to see all 6 Snowball Finance investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialInvestments by Snowball Finance
Snowball Finance has invested in 1 company to date.
Latest investment by Snowball Finance was on January 1st 2016. Snowball Finance invested in Xuan Yanjing in their $500K Angel round.
Latest Investments by Snowball Finance
| Description | Xuan Yanjing is an e-commerce platform specializing in prescription eyeglasses, sunglasses, and contact lenses. Operating from Shenzhen, China, it offers over 5,000 frame styles with virtual try-on features powered by AR technology. Xuan Yanjing ships to customers in Asia and Europe via its imglasses.cn site, partnering with lens manufacturers like Essilor. |
| HQ Country | |
| HQ City | Shenzhen |
| Deal Date | 1 Jan 2016 |
| Round | Angel |
| Raised | $500K |
| Investors | iMaibo.net |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Snowball Finance investments and their VC round multiples. Start Free Trial | |
Snowball Finance Competitors
Snowball Finance competitors include listed companies like Finatext and CARE Ratings, and private ones like Clarity AI, Cognism, Qredo and Opinion Labs.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $450M | - | ||
| Private | $71M | - | $450M | 6.3x | ||
| Private | - | - | $460M | - | ||
| Publicly listed | $71M | $13M | $470M | 5.4x | ||
| Private | - | - | $500M | - | ||
| Publicly listed | $49M | $21M | $516M | 9.9x |
Snowball Finance Public Comps
Snowball Finance is still privately-owned, but its public comps include Finatext, GlobalData, CARE Ratings, Value Line, HCR Co, CTOS Digital, NZX, Fintel, Bairong AI and Credit Bureau Asia.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $71M | $13M | 6.3x | 5.4x | 34.1x | - | |||
| $433M | $140M | 1.7x | 1.7x | 5.3x | 5.0x | |||
| $49M | $21M | 9.2x | 9.9x | 21.5x | 20.5x | |||
| $33M | $29M | 8.5x | - | 10.0x | - | |||
| $75M | ($3M) | 3.3x | - | (84.3x) | - | |||
| $80M | $28M | 4.4x | 4.1x | 12.6x | 15.6x | |||
| $74M | $30M | 4.0x | 3.4x | 9.8x | 9.2x | |||
| $115M | $18M | 2.7x | 2.8x | 17.3x | 8.4x | |||
This data is available for Pro users. Sign up to see all Snowball Finance competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Snowball Finance
| When was Snowball Finance founded? | Snowball Finance was founded in 2010. |
| Where is Snowball Finance headquartered? | Snowball Finance is headquartered in Beijing, China. |
| Is Snowball Finance publicly listed? | No, Snowball Finance is a private, VC-backed company. |
| What is Snowball Finance's valuation? | Snowball Finance was last valued at $450M in its Series E in December 2020. |
| How much funding has Snowball Finance raised? | Snowball Finance has raised $290M across 4 funding rounds. |
| What was Snowball Finance's last funding round? | Snowball Finance's last funding round was a $120M Series E in December 2020, led by Orchid Asia Group Management. |
| Who are Snowball Finance's investors? | Snowball Finance's investors include 5Y Capital, Morningside Private Investors, Ant Group, Moatable, HSG and Orchid Asia Group Management. |
| Which companies are comparable to Snowball Finance? | Companies comparable to Snowball Finance include Clarity AI, Cognism, Qredo, Finatext, Opinion Labs and CARE Ratings. |
| How many companies has Snowball Finance invested in? | Snowball Finance has invested in 1 company, including Xuan Yanjing. |
| What was Snowball Finance's last investment? | In January 2016, Snowball Finance invested in Xuan Yanjing's $500K angel round alongside iMaibo.net. |
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