Residential property manager Supa lands £20m funding boost

A company which has amassed a residential property management portfolio of more than 20,000 homes has landed tens of millions of pounds in funding to back its use of technology across an industry which has long resisted it.

Sky News understands that Supa, which produces software which takes on the administrative tasks associated with managing blocks of flats, will announce this week that it has raised £21m in seed funding.

The round has been led by 2150 and OpenOcean, two early-stage investors, and includes backing from KOMPAS VC, Actia Capital Partners and HEARTFELT.

Part of the round consists of a tranche of debt from an undisclosed provider.

Founded by Calum Brannan and Alexis Johnson, who sold their previous digital property start-up, Howsy, to estate agent Dexters in 2022, Supa has acquired seven local managing agents to date.

It retains the agents' existing names but introduces its AI software, which it says makes property management services - such as repair scheduling, safety checks and coordinating contractors - more efficient.

Supa's fundraising comes after average service charges for leaseholders in England and Wales surpassed the £200-a-month threshold on average, despite many managing agents failing to deliver even basic levels of service.

"Residents are paying more every year and too often getting less," Mr Brannan said.

"Bloated portfolios and ageing systems leave residents with their calls going to voicemail.

"We're doing the opposite: we keep the local firms, take the admin off their desks, and put managers back inside buildings instead of behind a phone queue.

"Everyone should know what their service charge pays for, and get an answer when they call."

Supa is expected to use the proceeds of its seed funding round to pursue further acquisitions as well as investing in expanding its workforce and investing in its technology.

"Property management operates with tools that feel decades overdue, and...[the] vision for Supa is to become the intelligence layer for how buildings are run," said Rahul Parekh, partner at 2150.

Sam Hields, partner at OpenOcean, said Supa was "one of the clearest examples of AI improving a real-world service at scale".

(c) Sky News 2026: Residential property manager Supa lands £20m funding boost