Square Yards Raises $35 Million to Fuel Growth in Proptech Sector

Square Yards, a notable force in the proptech landscape, has successfully secured $35 million in a new equity round. The funding was primarily led by South Korea’s Smile Gate Group, alongside contributions from existing investors. This was confirmed to Startup Superb by the firm, estimating the post-money valuation of the Gurugram-based startup at $935 million. VCCircle was the first to announce this pivotal event on Tuesday.

Fundraising Strategy and Future Prospects

This recent funding round initiates a larger capital strategy for Square Yards, which is ambitiously preparing for a Rs 2,000 crore initial public offering (IPO) anticipated in 2026. Sources indicate that the company is currently in advanced talks to secure an additional $100 million from various prominent global funds. This forthcoming capital is projected to comprise both debt and equity. Upon completion, this round may elevate Square Yards into the prestigious unicorn category, marking it as one of the few Indian proptech firms to achieve a billion-dollar valuation. The identities of these funds remain confidential.

About Square Yards

Established in 2014, Square Yards operates as an all-encompassing real estate and mortgage platform, providing services that span property searching, transactions, home loans, interiors, rentals, and property management. Its financial technology division, Urban Money, offers lending solutions across housing, personal, and secured loan segments. The majority of the company’s operations—over 87%—are propelled through aggregated channels, including brokers, advisors, and lending partners, while the remaining portion stems from direct activities.

Transaction and Revenue Insights

In the last year, Square Yards states it has facilitated Rs 12,000 crore in property transactions and secured Rs 66,000 crore in various loans. For the fiscal year 2025, the company recorded Rs 1,410 crore (approximately $170 million) in revenue and Rs 46 crore in EBITDA, buoyed by a robust real estate cycle and increased mortgage distribution volumes. Over the past four years, the firm has demonstrated a revenue CAGR of 51%, showcasing notable operational advantages. For the twelve-month period concluding in September 2025, revenue rose to Rs 1,670 crore, while EBITDA soared to Rs 120 crore, reflecting enhanced profitability as the company prepares for its upcoming IPO.

Previous Funding Rounds

Prior to this funding, Square Yards raised $25 million in 2021 from ADM Capital, followed by a $20 million investment from Bennett Coleman & Co. and Japan’s Genkai Capital in 2019. The company is in competition with NoBroker, which made headlines as India’s first proptech unicorn in 2021.