Ant-backed Snowball Finance is said to plan $300M U.S. IPO

Snowball Finance, which has backing from Ant Group Co., is said to plan for an IPO that may raise $300M.The Beijing-based company plans to file for an IPO as soon as this month, according to a Bloomberg report. Details on timing and offering size could change.Snowball, which created a crypto platform called xueqiu.com, completed a Series E funding round last year raising $120M exclusively from Orchid Asia, according to Deal Street Asia. Before the last funding round, four previous rounds raised more than $170M.Snowballs' investors include Sequoia Capital China, Morningside Group and Ant Group.Ant Group is the fintech affiliate of Jack Ma's Alibaba Group (BABA).Yesterday, Ant Group could restructure its medical crowdfunding site to appease regulators - WSJ.