UK-based property management startup Supa has emerged from stealth with £21 million in seed funding to expand its AI-enabled residential building management business.

The round was co-led by 2150 and OpenOcean, with participation from KOMPAS VC, Actia Partners, Heartfelt and angel investors.

Founded by Calum Brannan and Alexis Johnson, Supa is building a property management group that combines acquisitions of established local businesses with AI-powered automation. The company plans to use technology to streamline administrative operations while retaining experienced property management teams and existing customer relationships.

During its first 12 months, Supa acquired seven property management firms and expanded its operations to approximately 20,000 homes across the UK.

Combining Acquisitions With AI-Powered Operations

Supa is taking a different approach from traditional property management software companies.

Instead of selling software to independent property management firms, the startup acquires established businesses and integrates them into a shared technology-enabled operating model.

The approach allows Supa to bring together existing property management teams, local expertise and customer relationships while introducing common technology infrastructure across its group.

Many acquired businesses continue operating under their established local brands. Supa generally retains their existing teams, aiming to preserve relationships with residents and property owners during the transition.

The company's model focuses on improving the operational efficiency of property management rather than replacing the people responsible for managing residential buildings.

Automating Administrative Workflows

Supa is developing AI-powered systems to automate repetitive administrative tasks that property managers handle regularly.

Its technology targets workflows including:

• Contractor invoice processing

• Service charge reconciliations

• Building safety checks

• Contractor follow-ups

These processes can involve substantial coordination between property managers, contractors, residents and building owners.

By automating routine administrative work, Supa aims to reduce operational workloads and allow property managers to spend more time on building maintenance, resident communication and service delivery.

The company believes residential building management has been slow to adopt technology, leaving many operators dependent on manual processes and fragmented systems.

Its strategy is to introduce automation directly into the businesses it acquires, rather than asking independent property managers to adopt another standalone software platform.

Founders With Previous PropTech Experience

Supa was founded by Calum Brannan and Alexis Johnson, who previously built property technology company Howsy.

Howsy was acquired by UK estate agency Dexters in 2022. The founders are now applying their experience in property technology to a different part of the residential real estate market.

At Supa, their focus is on combining established property management operations with AI-powered systems to improve how residential buildings are managed.

Seven Acquisitions and 20,000 Homes Under Management

Supa has already established an operating base through acquisitions.

Over its first 12 months, the company acquired seven property management firms, bringing approximately 20,000 homes under its operations across the UK.

These acquisitions give Supa an existing portfolio of properties, local teams and customer relationships as it expands its shared operating model.

The company is targeting a market 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. This highlights the financial importance of transparent administration and efficient management for residents.

£21 Million Funding to Support Expansion

The £21 million seed round will support Supa's technology development, integration of acquired businesses and further expansion across the UK.

The investor group includes 2150, OpenOcean, KOMPAS VC, Actia Partners and Heartfelt, alongside angel investors.

Supa is also looking to acquire additional property management businesses and recruit as it expands its operations.

The company aims to build a larger residential property management group around a common AI-enabled operating model, combining local teams with centralised technology and automated workflows.

What Comes Next for Supa?

Supa's next phase will focus on expanding its portfolio, integrating acquired businesses and improving the technology supporting its operations.

Its model combines two growth strategies: acquiring established property management firms to increase the number of homes under management, and using AI to improve the efficiency of the resulting operations.

With seven acquisitions and approximately 20,000 homes already under management, Supa has established an initial operating base. The challenge now is to scale that model while maintaining service quality, resident relationships and consistent property management standards across its growing portfolio.