Real estate and mortgage platform Square Yards has joined unicorn club with a Rs 900 crore funding round - backed by debt and equity investors - raising its valuation beyond the $1 billion mark. EAAA Alternatives led the funding round, which also featured the involvement of global corporate credit manager Muzinich & Co.
Key Highlights
- Square Yards enters unicorn club after raising Rs 900 crore through debt and equity.
- Strong FY26 growth and IPO plans boost investor confidence in proptech platform.
The latest capital injection is among the biggest fundraisings by an Indian proptech firm in the past few years and is as the Gurugram-based company moves on towards its planned initial public offering (IPO). The company is also reportedly considering a second funding round in the next several quarters, as it prepares its balance sheet for an eventual public offering.
Established by Tanuj Shori and Kanika Gupta, Square Yards is now a comprehensive real estate platform that spans property transactions, home loans, rentals, interiors and property management. It is engaged in business in India and other countries such as UAE, Australia and Canada.
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Strong Financial Growth Fuels Investor Confidence
The funding comes on the back of a strong financial performance. In FY26, the revenue of Square Yards grew by 48% YoY to Rs 2,086 crore and the company's EBITDA grew by 3.7 times to Rs 176 crore in the same period. EBITDA margins improved considerably to 8% reflecting the company's enhanced profitability, operating leverage.
India continues to be the biggest market with almost 88% of its revenue. The business has also seen an increasing demand in the housing and home financing and home management services.
One such major growth driver of the group is Urban Money, its mortgage arm that has helped to disburse loans valued at Rs 87,831 crore during FY26, in collaboration with over 150 banks and NBFCs. In addition to Urban Money the company runs rental management platform Azuro and home interiors brand Interior Company, thus offering several revenue streams in the real estate value chain.
In its statement, the company's founder and CEO Tanuj Shori said that the move is a testament to the company's integrated business model, and will help drive its growth plans, technology investments and IPO preparations.
With the milestone, Square Yards joins a handful of Indian proptech startups that have become unicorns, as investor sentiment in the nation's digital real estate and housing finance ecosystem has surged based on the growing investor interest in real estate properties.The milestone puts Square Yards in a club of unicorn Indian proptech companies, underscoring the growing investor confidence in the country's real estate and housing finance industry amidst high demand for real estate properties and growing digitisation.
