(Yicai Global) Nov. 1 -- The automobile aftermarket service firm Beijing Caryu Network Technology Co., operating on Caryu.com, has secured CNY20 million (USD3.02 million) in pre-A round of financing. The money raised will be mainly used for marketing, the online media outlet 36Kr reported.

The fund will be used for expanding the team, making business expansion in more cities and launching more stores and marketing, said Xu Wei, founder and chairman of Caryu.com. The platform is expected to launch 15,000 stores across the country next year, providing daily service for 500,000 vehicles.

Launched in August 2014, Caryu.com is a one-stop value-added service platform for automobile aftermarket, covering auto insurance service, insurance period query, quotation and payment. At present, it focuses on 'Business to Business' (B2B) and 'Business to Customer' (B2C) automobile after-service platform.

As for the profit model, Caryu.com does not run stores itself and only provides software and hardware system, Xu said. Through B2B and B2C modes, it collects user needs of various stores and links the channels such as car insurance, rental and other suppliers. It then collects a certain channel commission and share income with stores. At the same time, it charges service fees by providing software and hardware services to the stores. Based on car owner information and accumulation of Big Data, the platform will also make accurate advertising in the future and charge according to the number of push.

At present Caryu.com has set up operations teams in eight cities in China, including Beijing, Shenzhen and Xiamen, with more than 3,000 stores, covering more than 10 million car owners. The platform's monthly car insurance turnover has reached several millions of yuan, and other business is also growing. The platform has brought in nearly 80 percent profit growth for cooperative merchants and more than 40 percent increase in car traffic to the stores.