£20m investment into online estate agency, YOPA
LSL Property Services Group is pleased to announce its strategic investment in an online hybrid estate agent, Yopa Property Limited (trading as “Yopa”) – acquiring 17.3% of the business for £20m.
The management team is led by Daniel Attia who co-founded the business in 2014. Since then, under Daniel’s leadership the management team has successfully developed its consumer focused, technology-enabled business model, which was launched in hybrid form in January 2016. The business model includes market leading digital technology linking the activities of sellers and buyers with Yopa’s own local agents, who are supported by a dedicated customer service centre.
LSL and Yopa have agreed to collaborate together in a strategic partnership with the objective of creating value for both LSL and Yopa shareholders.
Yopa will continue to operate independently, under its existing brand and management team.
Ian Crabb, Group Chief Executive Officer of LSL, said:
“We have been impressed by the Yopa management team, their business model and the technological capability which they have built. 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.”
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.”