UK-based property management startup Supa has emerged from stealth with £21 million in seed funding to expand its AI-enabled building management business. The round was co-led by 2150 and OpenOcean, with participation from KOMPAS VC, Actia Partners, Heartfelt and a group of unnamed angel investors.
Founded by Calum Brannan and Alexis Johnson, Supa is developing a new operating model for residential building management by acquiring established local businesses and integrating AI-powered technology into their operations. The co-founders previously built property technology company Howsy, which was acquired by Dexters in 2022.
Combining Property Management Acquisitions With AI Automation
Rather than offering software to independent property management companies, Supa acquires existing businesses and introduces technology directly into their day-to-day operations. The approach allows the company to combine established local teams and customer relationships with a shared technology infrastructure designed to reduce administrative workloads.
Its AI-powered systems automate repetitive processes such as contractor invoice processing, service charge reconciliations, building safety checks and contractor follow-ups. By reducing the time spent on these tasks, Supa aims to allow property managers to focus more on building maintenance, resident communication and service delivery.
The company generally retains the existing teams of acquired businesses, while many continue operating under their established local brands. This approach is intended to preserve relationships with residents and property owners while introducing new operational processes.
Supa’s founders argue that residential building management has been slow to adopt technology, leaving property managers dependent on manual processes and fragmented systems. Their model focuses on changing how these businesses operate rather than selling them another standalone software product.
Over the past 12 months, Supa has brought seven property management firms into its group, covering approximately 20,000 homes. These acquisitions form the foundation of its business as it seeks to expand across the UK residential property management market.
£21M Seed Round to Support Further Expansion
The £21 million seed investment will support Supa’s development of its technology-enabled property management group, including the integration of acquired businesses and further expansion of its operating model.
The company is targeting an industry where residential property managers oversee building maintenance, contractor relationships, safety requirements and service charge administration. According to the founders, average service charges for UK apartment residents exceeded £200 per month last year, highlighting the importance of transparency and efficient management.
Supa aims to improve these processes by combining AI automation with experienced property management teams. Its technology is designed to handle routine administrative work while leaving resident relationships and decisions requiring professional judgment to human managers.
The startup is also seeking additional property management businesses interested in joining the group and is recruiting as it expands its operations.
With seven acquisitions completed and approximately 20,000 homes under management in its first year, Supa plans to use its new funding to build a larger property management business around a common AI-enabled operating model.
