UK-based fixed-fee estate agent Yopa has closed a £20m ($26m) funding round led by DMG Ventures, the corporate venturing subsidiary of media company Daily Mail and General Trust (DMGT).
Grosvenor Hill Ventures, the corporate venturing division of real estate company Savills, also contributed to the round, as did Yopa’s co-founders.
Founded in 2015, Yopa operates a fixed-fee online real estate service that keeps costs low by foregoing physical outlets. Homeowners can manage viewing requests and offers through an online tool, while Yopa lists properties on platforms such as Zoopla and Rightmove.
The money will enable Yopa to recruit additional agents, further develop its technology, enhance its offering and support a recently opened customer service centre.
Yopa previously obtained $19.5m in a series B round backed by DMGT and Grosvenor Hill Ventures in May 2017, after the latter had already led a $23m series A round in 2016.
Surveying services company LSL Property Services is also an investor in Yopa.
Manuel Lopo De Carvalho, CEO of DMG Ventures, said: “Yopa is a stand-out performer in DMG Ventures’ portfolio and we are thrilled to support Ben Poynter and his team.
DMG Ventures backs innovative startups at the intersection of consumer, media and technology, and Yopa is a great example of how we can bring our experience and media understanding to bear for young companies seeking to build consumer brands.”