Indian proptech platform Square Yards has entered the unicorn club after raising Rs 900 crore, or nearly $95 million, through a mix of debt and equity financing.
The funding round was led by EAAA Alternatives and also included participation from global corporate credit manager Muzinich & Co. The company said the latest investment values the business at more than $1 billion.
According to the company, the fresh capital will support business expansion, strengthen technology infrastructure, and help advance preparations for a planned initial public offering (IPO).
Industry sources also indicated that Square Yards is exploring another funding round of nearly $50–60 million over the next quarter. The expected valuation for the upcoming raise could remain close to the current level.
The latest transaction is among the largest funding rounds secured by an Indian proptech startup in recent years.
Founded by Tanuj Shori and Kanika Gupta, Square Yards operates a digital real estate and mortgage platform. The company provides services across property transactions, home loans, rentals, interiors, and property management.
Over the years, the Gurugram-based firm has expanded its presence beyond India into markets such as the UAE, Australia, and Canada.
Apart from its brokerage business, Square Yards has also built multiple businesses within the real estate ecosystem. Its portfolio includes mortgage marketplace Urban Money, rental and property management platform Azuro, and home interiors brand Interior Company.
The company reported strong financial growth in FY26. According to Square Yards, revenue increased 48% year-on-year to Rs 2,086 crore.
EBITDA also saw significant improvement during the period. The company said EBITDA rose 3.7 times to Rs 176 crore, while EBITDA margin expanded to 8% from 3% in FY25.
Square Yards crossed Rs 2,000 crore in operating revenue for the first time during the fiscal year.
Square Yards said its mortgage business Urban Money contributed significantly to overall growth.
The platform facilitated loan disbursals worth Rs 87,831 crore in FY26 through partnerships with more than 150 banks and non-banking financial companies (NBFCs).
Commenting on the development, founder and CEO Tanuj Shori said the investment reflects investor confidence in the company’s integrated business model and long-term growth strategy.
The latest raise comes around seven months after Square Yards secured $35 million in funding led by South Korea-based Smilegate Group. That round valued the company at $935 million post-money.
At the time, reports suggested the company was looking to raise additional capital ahead of its planned public listing.
Square Yards now joins a small group of Indian proptech startups that have achieved unicorn status as demand for digital real estate services and housing finance platforms continues to grow in the country.
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