Square Yards has entered India’s unicorn club after raising Rs 900 crore, or about $95 million, in a fresh funding round made up of debt and equity.
The round was anchored by EAAA Alternatives, with participation from corporate credit manager Muzinich & Co. Following the fundraise, Square Yards’ valuation has moved past $1 billion, placing the company among the few Indian proptech startups to reach unicorn status.
The funding also ranks among the largest fundraises by an Indian proptech company in the last five years.
Square Yards is now preparing for its next stage of growth, with plans tied closely to expansion and a future public listing. The company is also in talks to raise another $50 million to $60 million over the next quarter at a valuation of around $1.6 billion.
Founded by Tanuj Shori and Kanika Gupta, Square Yards runs an integrated real estate and mortgage platform. Its services cover property transactions, home loans, rentals, interiors and property management. The company has built a presence across India, the UAE, Australia and Canada.
The latest funding comes at a time when Square Yards has reported strong operating growth. Its revenue grew 48% year-on-year to Rs 2,086 crore in FY26, while EBITDA rose 3.7 times to Rs 176 crore.
Beyond its core property brokerage business, Square Yards has expanded across the real estate value chain. Its portfolio includes Urban Money, a mortgage marketplace, Azuro, a rental and property management platform, and Interior Company, its home interiors brand.
Urban Money has become a major growth driver for the group. The company said the platform facilitated disbursals worth Rs 87,831 crore in FY26 through partnerships with more than 150 banks and non-banking financial companies.
Tanuj Shori, founder and CEO of Square Yards, said the investment validates the company’s integrated business model. He added that the capital will help the company accelerate expansion, strengthen capabilities and support preparations for its planned IPO.
The round comes seven months after Square Yards raised $35 million in funding led by South Korea-based Smilegate Group. That earlier round valued the company at $935 million post-money.
With the new fundraise, Square Yards has strengthened both its capital base and its position in India’s proptech sector. The company’s rise to unicorn status comes as it continues to scale multiple business lines across housing, finance, rentals and home services.
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