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YOPA's £15m Series B will see it doubling its network of local estate agents

Online estate agent YOPA has closed its £15m Series B funding round and received backing from some big-name investors in the process.

The London-based firm has attracted investment from the Daily Mail and General Trust (DMGT) and Grosvenor Ventures, the venture arm of property firm Savills, bringing total funding to £31m. Grosvenor Ventures previously led YOPA’s £16m Series A round last summer.

Operating on a ‘hybrid’ model, the estate agent has partnered with local estate agents across the UK to offer sellers a flat rate £839 fee to sell their home, advertising homes across property platforms including Rightmove and Zoopla.

It currently works with 75 agents, but now plans to double this number by year’s end thanks to this latest funding round.

The company itself was only founded back in 2015 by Daniel Attia, Andrew Barclay, David Jacobs and Alistair Barclay, with this latest backing a significant seal of approval for its model.

Co-founder Attia said that the firm had experienced a ‘strong’ first quarter of trading, which this Series B had capped off nicely.

He 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, Chief Executive Officer of DMGT, added: “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.”