Supa raises £21m to expand its property management group
2150 and OpenOcean co-lead financing as Supa combines local management firms with technology for building operations.
Supa has announced £21 million in seed financing to expand its UK property management business. The package combines an equity round co-led by 2150 and OpenOcean with a debt facility from a UK lender.
Kompas VC, Actia Partners, Heartfelt and angel investors also backed the business. Supa plans to acquire more local property management firms and develop technology that automates administrative work while retaining local teams and established brands.
Founded by Calum Brannan and Alexis Johnson, the company manages about 20,000 homes through seven local firms. Its software handles tasks including repair scheduling, service charge reconciliation, safety records and contractor coordination, giving managers more time to spend on buildings and residents.
Use of funds
Acquire local property management businesses
Develop building management technology