UK-based PropTech platform Yopa has raised £20m in a funding round from its existing backers.
The round was led by dmg ventures, the venture capital division of Daily Mail and General Trust, with participation also coming from Grosvenor Hill Ventures. This capital injection brings the company’s total funding efforts to £75m.
Yopa is a fixed fee digital real estate agent which increases transparency over the property sale and enables vendors and buyers to book viewings, receive feedback and accept offers at any time.
The company has seen strong growth this year, with there being more properties listed on the platform in the first half of 2018 than there were across the whole of 2017.
Capital from the investment will be used to expand Yopa’s network of 140 local agents across the UK, enhance its technology, scale its offerings and develop its newly launched customer service centre.
Yopa CEO Ben Poynter said, “Since last year, Yopa has continued to rapidly grow its market share firmly cementing its position to become the UK’s eighth largest estate agency brand.
“Our success to date is down to an unwavering commitment to focus on the customer and this new investment will help us to continue to enhance our offering whilst supporting an ever-growing number of customers who value a quality estate agency service for a fair fee.”
Earlier in the year, dmg ventures sold its stake in real estate data and software business EDR to Silver Lake and Battery Ventures. The deal, which was valued at $205m, was completed as dmg hoped to increase the portfolio focus and financial flexibility.
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