Supa raises £21 million for property management expansion

Business · First reported 4 Nov, 07:19 · Updated 08:31

Image: Wikimedia Commons · NASA Johnson Space Center · Public domain

Supa says it will use new funding to grow its UK residential block management business and develop technology for property managers. The coverage ranges from details about the financing and operations to a brief account of the funding announcement.

Supa raised £21 million in seed funding, including an equity round co-led by 2150 and OpenOcean and a debt facility from a UK lender.
The company says it manages about 20,000 homes through seven local property management firms and plans to expand through acquisitions.
Supa is developing an AI platform to automate administrative tasks in block management; the company says this could cut managers’ administrative time by up to 90 per cent.

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Key facts

Funding: £21 million seed funding, including equity and a debt facility.
Portfolio: Approximately 20,000 homes managed through seven local firms, according to Tech.eu.
Platform: Designed to automate administrative work such as repair scheduling and service-charge reconciliation.
Claimed time saving: Supa says the technology can reduce managers’ administrative time by up to 90 per cent.