The fresh funding round was led by EAAA Alternatives, with participation from global corporate credit manager Muzinich & Co
While Square Yards did not disclose the valuation, sources told Inc42 that the startup raised the funding at a valuation of over $1 Bn
Square Yards added that it is also looking to raise another $50-60 Mn over the next quarter as it gears up for its IPO
Months after raising $35 Mn in November last year at a $900 Mn valuation, proptech startup Square Yards
has raised ₹900 Cr (around $95 Mn) in a fresh funding round led by EAAA Alternatives, with participation from global corporate credit manager Muzinich & Co.
The fresh round was a mix of equity and debt and valued the startup at a significantly higher equity valuation compared to its previous fundraise, Square Yards said in a statement, without disclosing the valuation.
However, sources told Inc42 that the startup raised the funding at a valuation of over $1 Bn. With this, Square Yards has become the 131st Indian startup to enter the unicorn club.
Square Yards added that it is also looking to raise another $50-60 Mn over the next quarter as it gears up for its IPO.
The sources added that the proptech startup is eyeing a valuation of $1.6 Bn for the next fundraise.
With this, Square Yards has become the second startup to enter the unicorn club this month, after Sarvam raised $234 Mn as part of its $300 Mn Series B funding round at a post-money valuation of $1.5 Bn.
Square Yards plans to deploy the fresh capital for expanding across its existing markets, including India, the UAE, Australia, and Canada, and strengthening its technological infrastructure.
Founded in 2014 by husband-wife duo Tanuj Shori and Kanika Gupta Shori, Square Yards offers end-to-end real estate solutions, including property search, financing, home interiors and property management. The startup serves all the stakeholders of the real estate industry – from buyers, owners and tenants to agents and builders.
Apart from its flagship platform, Square Yards also operates secured mortgages and lending solutions marketplace Urban Money, rentals and property management services platform Azuro, and home interiors and modular furnishing subsidiary Interior Company. It competes with the likes of MagicBricks, 99acres, and Housing.com.
The startup has been eyeing a ₹2,000 Cr IPO for a while now. Last year, Inc42 reported that the IPO will likely comprise a fresh issue of shares and OFS of equal sizes. The founders of the startup will continue to hold more than 50% stake post its public listing.
On the financial front, Square Yards claims to have recorded a 48% YoY jump in revenue to ₹2,086 Cr in FY26 from ₹1,409.9 Cr in FY25. It said its EBITDA jumped 3.7X YoY to ₹176 Cr during the year.
Including the latest funding, Square Yards has raised $208.8 Mn to date from the likes of Bennett Coleman & Co. Ltd., Reliance Group Holdings, ADM Capital, Smilegate VC, among others.
Source: Inc42 - Startups
