Square Yards Achieves Unicorn Status with Major Funding Round

Square Yards, an innovative real estate and mortgage platform, has successfully joined the unicorn ranks by securing Rs 900 crore (approximately $95 million) in a funding round that includes both debt and equity. As stated in the press release, this funding round was primarily led by EAAA Alternatives, with contributions from the global corporate credit manager Muzinich & Co.

The Gurugram-based firm announced that this latest investment was achieved at a valuation surpassing $1 billion. This funding event marks one of the largest raises for an Indian proptech business in the past five years. Furthermore, industry sources indicate that Square Yards plans to secure an additional $50-60 million in the upcoming quarter in preparation for its initial public offering (IPO).

About Square Yards

Founded by Tanuj Shori and Kanika Gupta, Square Yards operates an extensive real estate platform that provides various services, including property transactions, home loans, rentals, interiors, and property management. The company has an established presence in India, the UAE, Australia, and Canada.

Business Growth and Revenue

The new capital infusion comes in light of impressive growth within the company’s operations. Square Yards reported a revenue increase of 48% year-on-year, totalling Rs 2,086 crore in FY26, while its EBITDA saw a remarkable rise of 3.7 times, reaching Rs 176 crore.

Diverse Business Portfolio

Beyond its core property brokerage services, Square Yards has developed a broad portfolio covering the entire real estate value chain. This includes the mortgage marketplace Urban Money, the rental and property management platform Azuro, and the home interiors brand Interior Company.

Urban Money has emerged as a significant growth catalyst for the company. Square Yards reported that the platform facilitated loan disbursals totalling Rs 87,831 crore in FY26 through collaborations with over 150 banks and NBFCs.

Leadership Comments on the Development

In light of this development, Tanuj Shori, founder and CEO of Square Yards, remarked that the investment affirms the validity of the company’s integrated business model, enabling further expansion, enhancement of technology capabilities, and bolstering its IPO preparation.

Previous Funding Round

This latest funding round arrives seven months after Square Yards raised $35 million led by South Korea’s Smilegate Group, achieving a post-money valuation of $935 million. At that time, it was reported that the company was planning to gather an additional $100 million through a combination of debt and equity financing as part of its public listing strategy.

Over the past few years, Square Yards has strengthened its financial position. In FY26, it surpassed Rs 2,000 crore in operating revenue for the first time, with its EBITDA margin expanding from 3% in FY25 to 8%.

Square Yards joins a select group of Indian proptech startups attaining unicorn status during a period when the country’s real estate and housing finance sectors are benefitting from increasing demand and greater digitisation.