Hybrid estate agency YOPA, which was backed to the tune of £16m last year in a funding round led by Savills, has raised another £15m, led this time by Zoopla Property Group’s founding investor and largest shareholder, Daily Mail & General Trust Plc.
This latest “Series B” batch of fundraising also included more moneys from Grosvenor Hill Ventures, the proprietary investment arm of Savills Plc.
YOPA, which was started by 27-year-old CEO Daniel Attia and chums in 2015, has now raised £31m within the last 12 months, and recently recruited ex-Paddy Power CMO and giffgaff founder, Gav Thompson, as its Chief Marketing Officer.
The fresh-faced fixed-fee (£839) firm claims to be “one of the country’s top estate agents at selling properties, with an 83.1% success rate (compared to Connells agreeing sales on 62.3% of its listings, Countrywide on 60.2%, LSL on 50.6% and Foxtons on 48.8%)”. It currently operates a network of 75 individual estate agents across the UK, and plans to double this number to 150 by the end of 2017.
The firm is currently marketing Martin Amis’ former home in Primrose Hill with a £7.5m asking price.
Daniel Attia, co-founder and CEO of YOPA: “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, Daily Mail and General Trust plc: “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. 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.”