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

Snowball Finance Overview

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

ChinaBeijing

Website

xueqiu.com

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

Snowball Finance valuation by funding round
DateStageValuation
Dec 2020Series E$450M
Jul 2018Series 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

Snowball Finance funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2020Series EOrchid Asia Group Management (lead)$120M$450MSnowball 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 2018Series DAnt Group (lead)$120M$500MSnowball 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 2014Series CMoatable (lead); Morningside Private Investors; 5Y Capital$40M--
Jun 2013Series B5Y 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

Investors in Snowball Finance by funding rounds participated
InvestorHQRoundsRoleFirst check
5Y CapitalChinaChina2LeadJun 2013
Morningside Private InvestorsUnited StatesDanbury, CT1ParticipantSep 2014
Ant GroupChinaHangzhou1LeadJul 2018
MoatableUnited StatesPhoenix, AZ1LeadSep 2014

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Investments 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

Xuan Yanjing
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 CountryChina
HQ City
Shenzhen
Deal Date1 Jan 2016
RoundAngel
Raised$500K
InvestorsiMaibo.net
Valuationundisclosed
EV/Revenue
EV/EBITDA

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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.

Public and private companies comparable to Snowball Finance
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Clarity AIUnited StatesNew York City, NYPrivate--$450M-
CognismUnited KingdomLondonPrivate$71M-$450M6.3x
QredoUnited KingdomLondonPrivate--$460M-
FinatextJapanJapanPublicly listed$71M$13M$470M5.4x
Opinion LabsHong KongHong KongPrivate--$500M-
CARE RatingsIndiaIndiaPublicly listed$49M$21M$516M9.9x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Finatext$71M$13M6.3x5.4x34.1x-
GlobalData$433M$140M1.7x1.7x5.3x5.0x
CARE Ratings$49M$21M9.2x9.9x21.5x20.5x
Value Line$33M$29M8.5x-10.0x-
HCR Co$75M($3M)3.3x-(84.3x)-
CTOS Digital$80M$28M4.4x4.1x12.6x15.6x
NZX$74M$30M4.0x3.4x9.8x9.2x
Fintel$115M$18M2.7x2.8x17.3x8.4x

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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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