YOPA

London-based PropTech firm YOPA has raised £15m in Series B funding.

Founded in 2015, YOPA’s Series B was led by the Daily Mail and General Trust Plc and comes after the company closed a £16m Series A last year.

Grosvenor Hill Ventures, Savills’ investment arm, also participated in the round.

Daniel Attia, co-founder and CEO of YOPA, said, “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.”

YOPA, which has raised £31m to date, will use the money to increase the amount of estate agents on its network and to try and capture a bigger share of the market.

Currently, the firm has 75 estate agents using its platform and hopes to double this number by the end of the year.

Paul Zwillenberg, CEO of the Daily Mail and General Trust plc, commented: “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,” he concluded.