London-based PropTech firm Yopa has raised £27.6m from investors including LSL Property Services plc and existing investor Daily Mail and General Trust.
The news comes after the company announced a £15m Series B in May, having drawn the support of Grosvenor Hill Ventures – Savills’ investment arm – alongside existing backers.
Yopa, which also closed a £16m Series A in June last year, says it will use the fund to continue growing.
Daniel Attia, co-founder and CEO of Yopa, said: “We are delighted to welcome LSL as an investor into the business. LSL has been evaluating a range of opportunities in the online and hybrid estate agency space, and 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.
“The Yopa and LSL strategic partnership and investment will help further accelerate Yopa’s growth and cement our position as a leading player in this space.”
The firm, which seeks to make the process of selling and buying a home more affordable, simple and transparent, will continue to operate independently under its existing brand and management team.
Ian Crabb, group chief executive of LSL, said he had been impressed by Yopa’s management team, its business model and technological capability.
“We are committed to working closely with the Yopa team through our strategic partnership to enhance their consumer offering and to leverage LSL’s know-how and services across the residential property value-chain.
“LSL aims to derive value from the strategic partnership through the potential to provide services to Yopa and to selectively leverage their know-how into the LSL Estate Agency business. This investment provides LSL with a meaningful presence in the expanding online and hybrid markets and represents an attractive strategic shareholding for the LSL Group,” he concluded.