Online hybrid estate agent YOPA has raised a further £15 million from investors including the Daily Mail’s parent company DMGT and Grosvenor Hill Ventures, the investment arm of Savills.
The company claims increasing market share and that hybrid agents like it and Purplebricks will handle 50 per cent of all sales by 2020.
YOPA founders Daniel Attia, Andrew Barclay, David Jacobs and Alistair Barclay, say that the hybrid agency is one of the “country’s top three agents for successful property sale” based on percentages of sales agreed against listing data from Rightmove data.
YOPA has a national network of 75 freelance local agents and plans to use the new investment to double the number of agents by the end of this year.
“After a strong first quarter of trading, we are delighted to have closed our Series B round of funding,” says Daniel Attia.
“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 testament to our model of estate agency, and to the team, the driving force behind the business.”
Paul Zwillenberg, CEO of DMGT, says he is “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”.