Square Yards, a real estate and mortgage platform, today announced the successful closure of a ₹900 crore ($95 million) capital raise, propelling it to unicorn status. The strategic investment, anchored by EAAA Alternatives with participation from global corporate credit manager Muzinich & Co., comprises a mix of debt and equity. The company is also looking to close another $50-60 million over the next quarter as part of its ongoing capital strategy, according to a report by The Hindu BusinessLine.
Capital Raise and Valuation
The ₹900 crore fundraise marks Square Yards' entry into the unicorn club. The round was anchored by EAAA Alternatives and saw participation from Muzinich & Co. The company is now gearing up for an initial public offering (IPO) and plans to raise an additional $50-60 million in the next quarter to strengthen its balance sheet and fuel expansion.
Financial Growth and Profitability
In FY26, Square Yards reported revenues of ₹2,086 crore (approximately $223 million), a 48% year-on-year growth. Profitability surged, with EBITDA jumping 3.7x to ₹176 crore (approximately $19 million). The company highlighted a 5-year revenue compound annual growth rate (CAGR) of approximately 53%.
| Metric | FY26 Value | YoY Change |
|---|---|---|
| Revenue | ₹2,086 crore ($223M) | +48% |
| EBITDA | ₹176 crore ($19M) | +3.7x |
| 5-year Revenue CAGR | ~53% | — |
Ecosystem of Services and Tech Platforms
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 operates a portfolio of complementary consumer brands including Urban Money, Azuro, and Interior Company. Urban Money has scaled rapidly, facilitating loan disbursals of ₹87,831 crore in FY26 through a network of agents and partnerships with more than 150 banks and NBFCs.
The group also runs technology-led B2B platforms:
- Data intelligence platform for property valuation and title search
- PropVR, an AI-powered tool for immersive 3D, virtual and augmented reality property experiences
IPO Plans and Strategic Firepower
With an operational footprint spanning India, the UAE, Australia, and Canada, the latest capital infusion helps Square Yards prepare for its IPO. Tanuj Shori, Founder & CEO of Square Yards, commented, “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 company intends to use the funds to expand its technological infrastructure and market presence.
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