Square Yards, which offers integrated services from property search to home loans and interiors, has become a unicorn after raising ₹900 crore in a mix of equity and debt.
The latest funding, at a higher valuation than its previous round, will help the company fortify its balance sheet, scale operations, deepen its technological capabilities, and move closer to an Initial Public Offering.
Square Yards Raises ₹900 Cr From Investors, Becomes Unicorn
The funding round was anchored by EAAA Alternatives and saw participation from global corporate credit manager Muzinich & Co.
Square Yards Justdial
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Real estate consultant Square Yards on Tuesday said it has raised ₹900 crore from investors to grow business and refinance debt.
In a statement, the company said it has raised R₹ 900 crore, comprising a mix of debt and equity.
The funding round was anchored by EAAA Alternatives and saw participation from global corporate credit manager Muzinich & Co.
Square Yards said the equity fund was raised at a valuation higher than its previous round.
Sources said the fund was raised at a valuation of more than USD 1 billion, thereby helping the company to achieve unicorn status.
During the last fiscal, Square Yards reported revenue of ₹2,086 crore, a 48 per cent year-on-year growth. The EBITDA jumped 3.7 times to ₹176 crore.
Square Yards offers integrated services, including property search, transactions, home loans, interiors, and property management.
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The fund will help fortify its balance sheet while enabling the company to fuel further expansion and strengthen its technological infrastructure. Square Yards said it is preparing for Initial Public Offering (IPO).
Tanuj Shori, Founder & CEO of Square Yards, said: "This significant capital raise from such esteemed institutional partners is a profound validation of our resilient business model and our relentless pursuit of revolutionizing the real estate ecosystem." The company said it has a 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," Shori said.