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Real estate technology and services platform Square Yards has raised INR 900 crore through a combination of debt and equity to support business expansion, strengthen its balance sheet, and refinance existing debt. The funding round was led by EAAA Alternatives, with participation from global corporate credit manager Muzinich & Co. Sources indicated that the latest fundraise values the company at over USD 1 billion, helping it enter the unicorn club. The capital infusion comes as Square Yards prepares for a future IPO and builds on a year of strong revenue growth and improved profitability.
Real estate consultant Square Yards has secured INR 900 crore in fresh funding through a mix of debt and equity, as the company looks to expand its operations, refinance debt obligations, and reinforce its financial position ahead of its planned Initial Public Offering (IPO).
According to the company, the funding round was anchored by EAAA Alternatives and also attracted investment from global corporate credit manager Muzinich & Co. The equity portion of the fundraise was completed at a valuation higher than the company's previous funding round.
Sources familiar with the transaction indicated that the latest investment values Square Yards at more than USD 1 billion, enabling the company to achieve unicorn status. The milestone places the firm among a select group of Indian proptech companies that have crossed the billion-dollar valuation mark.
The capital raise follows a strong financial performance in the previous fiscal year. Square Yards reported revenue of INR 2,086 crore, reflecting a 48 per cent year-on-year increase. The company's EBITDA rose 3.7 times to INR 176 crore, highlighting significant improvement in operational profitability.
Founded as an integrated real estate platform, Square Yards provides services across property search, property transactions, home loans, interior solutions, and property management. Over the years, the company has expanded its presence by combining technology-driven services with real estate advisory and financial solutions.
The company stated that the newly raised capital will help strengthen its balance sheet while supporting further business growth and investments in technology infrastructure. The funding is also expected to support preparations for its planned IPO.
Founder and Chief Executive Officer Tanuj Shori said the investment from institutional partners reflected confidence in the company's business model and its efforts to transform the real estate ecosystem through an integrated platform approach. He added that the fresh capital would help accelerate market expansion, enhance technology capabilities, and create greater value for customers and stakeholders as the company moves towards its IPO plans.
Square Yards further stated that it has built a profitable and scalable business model with integrated offerings across multiple segments of the real estate value chain.
Source PTI
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