Harbottle & Lewis has advised residential estate agency Yopa Property Limited on a £16 million funding round led by DMG Ventures, the venture capital arm of the Daily Mail Group and an existing investor in Yopa.
The remainder of the funding came from another existing investor, Grosvenor Hill Ventures, the investment arm of Savills, and co-founder Alistair Barclay.
Launched in 2015, Yopa is now a leading player within the fast-growing online/hybrid estate agency space. The proceeds of this fundraising round will be used to invest in technology, marketing and customer service as Yopa looks to accelerate its growth.
Concurrently, Yopa has announced the appointment of its new chairman, Grenville Turner, who was chief executive of Countrywide until 2016 and has also served on the boards of both Rightmove and Zoopla.
Tim Parker commented: “It was a real pleasure working with the team at Yopa on this significant next milestone in the growth of the business. We look forward to continuing to support Yopa as it expands and develops its business and brand.”
Lucy Tonks, Head of Legal & Compliance at Yopa commented: “We have thoroughly enjoyed working with Harbottle & Lewis on this funding round. They have offered fantastic support with pragmatic and commercial legal advice throughout. We look forward to building on our relationship with Harbottle & Lewis as they continue to support Yopa’s growth.”