Online social network Renren has led a $40m series C round for China-based financial information service Snowball Finance, Sina Tech reported on Friday.
Sequoia Capital and Morningside Capital also participated in the round, having both invested in a $10m series B round raised by Snowball in June 2013. Sequoia also provided $3.2m of series A funding for the company in 2011.
Snowball oversees both a finance-focused social network called Xueqiu and an online financial news source known as iMeigu, which provides readers with stock market data across various countries, currencies and cryptocurrencies.
The funding will support an expansion by Snowball as it seeks to add brokerage services to its product offering, which would allow users to buy and share stock on its site and app.