Square Yards turns unicorn with Rs 900 Cr fundraise
Square Yards will use this funding round to expand its business and upgrade its technology infrastructure.
Real estate and mortgage platform Square Yards has raised Rs 900 crore ($95 million approx.) in a mix of debt and equity transactions.
The funding was anchored by EAAA Alternatives with participation from global corporate credit manager Muzinich & Co, according to a press release.
A report from PTI noted that this funding round was done at a valuation in excess of $1 billion turning Square Yards into a unicorn company.
The fundraise will strengthen the balance sheet of the company as it looks towards further expansion and strengthen its technology infrastructure. Square Yard is also planning towards an initial public offering but no timeline was provided.
Square Yards is also looking to close another $50-60 million over the next quarter as part of its ongoing capital strategy.
On the funding raised, Square Yards Founder & CEO Tanuj Shori said, "We have spent the last few years building a highly profitable, scalable, and fully integrated platform. As we gear up for our upcoming IPO, this capital raise will provide us with the strategic firepower to accelerate our market expansion, deepen our technological moats, and continue delivering exceptional value to our customers and stakeholders."
The statement noted that Square Yards registered a revenue of Rs 2,086 crore for FY26 which was 48% year-on-year growth. The EBITDA of the company touched Rs 176 crore.
From its origins as a primary brokerage, Square Yards has transitioned into a fully integrated ecosystem offering services across property search, transactions, home loans, interiors, and property management.
The company has an operational footprint spanning India, the UAE, Australia, and Canada.
On the fund infusion into Square Yards, EAAA Alternatives CEO Amit Agarwal said, “Our investment thesis was anchored in backing a profitable market leader operating with significant operating leverage in a highly fragmented market, providing a long runway for future growth.”