Online estate agent Yopa raises £27m

ONLINE estate agency Yopa has raised in excess of £27m in new funding from a pair of investors.

Yopa, which operates a fixed-fee model as opposed to the percentage model operated by traditional agents, has received a £20m investment from LSL Property Services, whose brands include Your Move and Reeds Rains.

In addition, Daily Mail and General Trust, an existing investor, has committed a further £7.6m to increase its equity stake. Yopa, which operates a network of local estate agents across the UK, said it plans to use the money to expand its network of local agents and increase market share.

The new cash call follows a £15m funding round in May of this year.

Yopa was co-founded by Daniel Attia with Andrew and Alistair Barclay, the grandson and son of Sir David Barclay. Sir David and Sir Frederick Barclay are the proprietors of Telegraph Media Group, publisher of The Daily Telegraph. Neither has a direct stake in Yopa.

Mr Attia said of LSL: “Their investment is a fantastic testament to the strength and potential of the Yopa business, as well as the first-class team we have driving the business forward.”