(Yicai Global) Nov. 3 -- Internet auto insurance platform Cheche365, operated by Beijing Cheyuche Technology Co., has secured CNY200 million (USD30.2 million) in B-round funding led by China Capital Group. Shunwei Capital, China Broadband Capital and other investment institutions, online media outlet 36Kr reported yesterday.

Cheche365 will use the funds to expand online and offline operations, aid product development and establish an ecosystem providing comprehensive financial and insurance services, the firm's founder Zhang Lei said.

The platform will extend its services from car insurance to include car owners' personal insurance, finance and credit.

The company, founded at the end of 2014, is positioned as an internet auto insurance open platform, mainly serving as a link for insurers and sales channels. Services are roughly divided into three segments, namely, agent, business and consumer.

Cheche365 cooperates with insurers and insurance agencies to provide services for agents. In terms of business customers, the company cooperates on internet traffic on major platforms such as Baidu Inc's [NSDAQ:BIDU] Baidu Maps in order to provide services and technology. The firm's customer business provides services through WeChat public accounts, mini-programs and apps.

The platform shares profits with insurance companies according to compensation and claims, as well as charging commission.

Cheche365.com has established cooperative relationships with more than 30 insurers, linking more than 100 online and offline trading scenarios, covering 1,000 cities nationwide and serving nearly one million users.

The company's premium for this year is expected to reach USD303 million (CNY2 billion), serving 400,000 to 500,000 users, Zhang said. Cheche365 also serves as a platform for smart insurance advisory services, on a small scale at present, providing suggestions on types of insurances.