Hybrid real estate agency YOPA has scored GBP15 million in a Series B round of funding, led by the Daily Mail and General Trust (DMGT).
The London-based firm, who operates a network of 75 local estate agents across the U.K. and assists people to sell their property for a fixed fee, says it will use the investment to expand its network of local agents and continue to grow its market share.
The funding from DMGT comes alongside investment from Savills and further private investors. Securing two big investors signifies the business’s achievements, said its CEO Daniel Attia.
“After a strong first quarter of trading, we are delighted to have closed our Series B round of funding,” Attia said.
“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 the Daily Mail and General Trust also commented on the funding round.
“DMGT has a history of profitable investment in the property sector, including a significant long term stake in Zoopla Property Group, leading to the company’s successful IPO in 2014, and the group’s own portfolio of property information businesses in the US and Europe,” Zwillenberg 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.”
