Hybrid agency Yopa has raised another £16 million to be spent on customer service, technology and increasing its market share, taking the company’s total raise to £91 million.
At the same time it has also revealed that former Rightmove director and Countrywide boss Grenville Turner has been appointed as its chairman.
“Yopa has national appeal, with a credible service proposition that leverages real estate agents, category-leading technology and flexible payment models at a time when customers are hungry for choice,” says Turner (left).
“I look forward to working with the management team, drawing on both my traditional estate agency background and hands on experience in transitioning tech start-ups into their ascendancy.”
The latest cash call takes the total amount raised by the company £16 million just a few months after it launched while in 2017 it raised £15 million plus a further £27.6 million in September that year and £20 million in August 2018.
The latest round of funding comes from familiar sources; Daily Mail subsidiary DMG Ventures, Savills investment arm Grosvenor Hill Ventures and its founders.
“Following a year of investment in 2018 and the launch of our No Sale No Fee product, this year we have been focusing on getting business fit, streamlining where necessary and investing in new teams to drive customer service and business performance,” says Ben Poynter, its CEO.