Hybrid estate agency YOPA clinches £16m Series B
Company will use funding to double its network of 75 local estate agents by the end of 2017
YOPA, the hybrid estate agency featured as one of Startups’ top businesses of 2016, has secured £15m in Series B funding from the Daily Mail and General Trust (DMGT), as well as Grosvenor Ventures – the investment arm of Savills plc, which led its previous £16m funding round in 2016.
Founded by Daniel Attia, Andrew Barclay, David Jacobs and Alistair Barclay in 2015, YOPA works with an exclusive network of 75 local estate agents, charging home sellers a fixed fee of £839 to use its online platform.
The company advertises its users’ homes across all the UK’s major property websites including Rightmove, Zoopla and PrimeLocation.com, where it claims 98% of buyers look for their next home.
The funding will be used to expand this network of local estate agents, with the aim of doubling the number by the end of 2017, and to increase its growing market share.
Attia commented: “After a strong first quarter of trading, we are delighted to have closed our Series B round of funding. Having DMGT lead this round is incredibly exciting and we are also pleased to continue our close relationship with Savills, who have reinvested and maintained their equity stake.
“Having two industry giants backing our vision is not only a testament to our model of estate agency, but to the team at YOPA who are the driving force behind the business.”
Paul Zwillenberg, CEO of DMGT, said: “We have been impressed by YOPA, which has quickly established itself as a key player in a new market that has exciting growth potential, and look forward to seeing the progress of the team’s expansion plans.”