- Supa has raised a £21 million seed round, with 2150 and OpenOcean leading the investment.
- Over the last year, the Howsy founders have acquired seven block management companies and now manage some 20,000 homes.
- Supa has not disclosed any details about the equity/debt split, the valuation, or the lender. They do say that their approach cuts admin by 90%.
In 2022, Calum Brannan told Howsy shareholders that the company was being sold to Dexters. The board chose the quickest buyer, given the company’s cash position and six months of shareholder loans.
Brannan is back with a new strategy. With Alexis Johnson, his Howsy co-founder, he’s raised £21 million for Supa. The model is to buy established block management companies and then upgrade their back offices with Supa’s own AI.
2150 and OpenOcean co-led the seed round, with KOMPAS VC, Actia Capital Partners and HEARTFELT also joining. A major UK lender is also providing a debt facility.
Supa acquired seven local managing agents in its first year and now manages around 20,000 homes. Revenue has grown by over 700% since the initial acquisitions in late 2025. The most recent acquisitions include Hunters in Sussex, FW Block Management in Hertfordshire, and Lamberts in London.
A roll-up strategy with the software at the core of the integration
Supa’s model is straightforward: you buy the established agent, keep their name and staff, and replace their back-office systems with Supa’s software. The software handles repairs, service charge reconciliation, safety checks, and contractor management. Supa says admin time is reduced by up to 90% but has not provided data to prove it.
Brannan positioned Supa as being quite different to the others in the sector: “Residents are paying more every year and too often getting less. 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 describes its approach as “the third way” for companies deciding whether to sell to a rival or to investors. Supa is VC- and debt-funded, so the promise to keep the original name will be tested in every deal.
This isn’t a new model. Dwelly, which buys UK lettings agencies and runs them with AI, raised £69 million in February, then £128 million in July. In the US, Thrive Holdings raised $2 billion at a $12 billion valuation to buy service businesses and then restructure them with AI.
Service charges are more than just admin
Supa’s argument starts with the cost. The Hamptons service charge index shows the average service charge in England and Wales will be £2,405 a year in 2025, up from £1,814 in 2020. That’s a 32.6% increase in service charges over the period, versus a 30.9% increase in consumer prices. Over the ten-year period, service charges rose 55.6% compared with a 30.9% increase in CPI.
Faster software doesn’t actually address the biggest cost increases. The Property Institute’s 2026 service charge index showed that Building Safety Act compliance costs were up 53% year on year and reserve funds up 26%.
Supa’s statement points to the immense workload pressures on managers, referencing the Property Institute’s research into wellbeing. Leasehold reform is also expected to add to the pressure. The Commons debated the reform in February and April. Supa values the property management sector at £37 billion.
What investors say and what’s next
The funding will support technology development and further acquisitions, aiming to give residents a same-day response rather than one that could be weeks down the line.
Rahul Parekh, partner at 2150, commented, “Property management operates with tools that feel decades overdue, and Calum and Alexis saw the opportunity to change that completely. Their vision for Supa is to become the intelligence layer for how buildings are run, starting with scaling their block management platform. We believe Supa can redefine what great property management looks like, and we’re excited to back them on that journey.”
Sam Hields, partner at OpenOcean, noted, “Supa is one of the clearest examples of AI improving a real-world service at scale. Calum and Alexis are bringing together the technology, the data and the businesses needed to make it work, and we’re delighted to back them.”
Sebastian Peck, founding partner at KOMPAS VC, added, “When a block is well-managed, it operates quietly in the background; when it’s poorly managed, it can negatively impact residents’ finances, safety, and daily quality of life. Supa is harnessing the power of agentic AI and economies of scale to lift industry standards, improving communication, responsiveness, and quality of service delivery. We are very proud to back the founders and their extraordinary team as they build a category-leading property management business with global ambitions.”
The key benchmark will be whether the acquired companies keep their clients and staff, since Supa’s software handles much of the admin work. The first 20,000 homes will be the first indicator of success.
