(Yicai Global) Sept. 6 -- Guangdong Car House Industrial Co., the operator of a Chinese one-stop auto parts marketplace, has secured USD23 million (CNY150 million) in a financing round led by Japan's Autobacs Seven Co. [TYO:9832]. It will spend the proceeds on app development, branding and sales outlet construction.

Car House and Autobacs Seven, Asia's largest retailer of automobile supplies and accessories, entered into a financing agreement, and the former has already received the first USD4.85 million (CNY32 million), Lieyunwang.com reported yesterday.

The Car House app went live last year as a one-stop online shop offering auto parts, accessories and services to car owners, bringing products from manufacturers directly to users and service stations through a business-to-customer (B2C) model.

The app attracted some 1,500 brands in the year following its introduction and sells to about 100,000 auto repair and service centers in China. It offers over 45,000 different items representing all of the aftermarket segments. Its monthly sales have surpassed CNY30 million and are growing 35 percent a month, the company said.

Partnering with Autobacs Seven will help Car House penetrate the Japanese market. Through the Japanese firm's marketing channels, high-quality Chinese brands will gain global market access. Car House aims to increase its revenue to CNY400 million and grow merchants' sales to CNY100 million next year, then float by 2020, its founder Jiang Haitao said.