Beijing-based social networking platform for Chinese individual investors, XueQiu.com, has completed US$40 million series C financing led by New York Stock Exchange-listed Chinese social networking firm Renren Inc., according to Chinese media reports.
Morningside Ventures also participated.
Launched in late 2011, Xueqiu.com received RMB20 million (US$3.26 million) series A round from Sequoia Capital that year. It completed US$10 million series B financing from Morningside Ventures and Sequoia Capital in 2013.
The company says it will use the latest proceeds on improving its platform’s trading capabilities.
Xueqiu.com connects Chinese individual investors in a social networking platform where investors can exchange ideas, search for data, news and trade stocks.