Top new businesses of 2016: YOPA
The 24/7 property platform that charges house sellers a small fixed fee
Founders: Daniel Attia, Andrew Barclay, David Jacobs and Alistair Barclay
Launched: January 2016
YOPA is the latest property technology (proptech) start-up setting out to disrupt the sector and introduce some transparency into the market.
Founded by 2016 Young Guns Daniel Attia, Andrew Barclay, David Jacobs and Alistair Barclay, YOPA allows home sellers to post their properties on its site before advertising them across the “UK’s most popular” property websites such as Rightmove, Zoopla and PrimeLocation.com, where “98% of buyers look for their next home”.
The platform charges consumers a fixed fee of just £780, rather than taking a percentage of the sale, while buyers, sellers and agents are enabled to interact with each other “directly around the clock” in a bid to break down the “traditional barriers” of the estate agency model. Every customer is also assigned a dedicated local agent to help guide them through their sale.
YOPA claims its novel approach helps customers find a buyer in under 30 days, saving over £3,000 in fees, and secures customers over 98% of their asking price.
Despite competition from the likes of more established rival 24/7 online estate agency Purplebricks, it’s clear investor confidence is high in this start-up. Just six months after launch, YOPA closed a massive £16m in funding led by Grosvenor Hill Ventures – the investment arm of Savills plc.
We predict 2017 is going to be a big year for YOPA.