High-end international estate agency company Savills claims Yopa, in which it has invested substantial sums, is now the UK’s 10th largest estate agency.
Buried in the detail of its report to shareholders on its 2017 business, the headlines from which we reported here, there was reference to Savills’ business development last year.
Much of this is conducted through Savills’ proprietary investment arm, Grosvenor Hill Ventures which - the report says - “has made a number of investments in promising technology opportunities.”
The report then goes on to says: “Our largest investment to date is in YOPA, the digital hybrid residential UK estate agent. During the last 12 months it has grown to become the 10th largest agent in the UK.”
Although less high profile than some online/hybrid agencies, Yopa is now exceedingly well-funded.
Grosvenor Hill Ventures placed its first investment in the agency when it was only six months old - then it was thought some £16 had been put in by GHV. GHV is also believed to have contributed towards another £17m raised by Yopa more recently.
Additionally, Yopa has substantial financial backing from the Daily Mail and General Trust and LSL Property Services.
Meanwhile Savills has revealed further PropTech investments.
Its statement yesterday said: “We have also invested in Proportunity, an Artificial Intelligence based start-up focused on real estate valuation. Finally, in December we invested in VuCity, the first digital 'smart Cities' platform which is focused on making planning applications faster and easier for sponsors and Local Authorities to progress.”