Alibaba’s financial affiliate Ant Financial is close to a deal to invest US$100 million in Chinese financial information service provider Xueqiu, according to Chinese local media citing insiders.
The round values Xueqiu between US$400 million to US$500 million, according to the report.
An Ant Financial spokesperson said the company does not comment on market speculations. Xueqiu did not immediately respond to China Money Network’s email seeking for comment.
Founded in 2010, Xueqiu operates Xueqiu.com and a mobile app. It provides information about stock markets in China mainland, Hong Kong and the U.S. It provides investors with data query, newsletter subscriptions and interactive communication services.
In 2014, the company raised a US$40 million series C round led by New York Stock Exchange-listed Chinese social networking firm Renren Inc., and participated by Morningside Venture Capital.
In 2013, it raised a US$10 million series B round from Morningside Ventures and Sequoia Capital. It also raised a US$20 million series A round from Sequoia Capital in 2013.