Square Yards Raises Rs 900 Crore at a Unicorn Valuation
Square Yards is an Indian proptech company. Proptech is short for “property technology”. It means using apps and software to buy, sell, rent, or pay for homes and property. Square Yards has just raised Rs 900 crore in new money. That is about $95 million.
This deal says the whole company is now worth more than $1 billion. That makes Square Yards a “unicorn”. A unicorn is a private startup that is worth $1 billion or more. The deal was reported by Financial Express. It was led by a firm called EAAA Alternatives. A global money manager named Muzinich & Co. also joined in.
Square Yards runs one of India’s biggest proptech platforms. The new money will help it grow faster. It will also help the company get ready to sell its shares on the stock market.
What does a “unicorn valuation” mean?
A valuation is the price tag put on a whole company. When new investors put in money, they all agree on what the business is worth. Here, that agreed worth went past $1 billion.
That is why people now call Square Yards a unicorn. The name was chosen because such valuable young startups used to be very rare. They were as rare as the magic horse from old stories. India has made many unicorns in the last ten years. But only a few of them work in property, like Square Yards.
Who put in the money?
The deal was anchored by EAAA Alternatives. “Anchored” means EAAA was the lead investor. It put in the most money. EAAA is part of a big Indian financial group. It looks after money for large companies and institutions.
Muzinich & Co. also joined. It is a global firm that lends money to companies. The Rs 900 crore is a mix of two things: equity and debt. Equity means selling a part of the company. The buyer then owns a small piece, called a stake. Debt means borrowing money that must be paid back later. Using both lets Square Yards raise a lot of money. And it does not have to give away too much of the company.
The company is not finished raising money. Reports say it plans to bring in another $50 million to $60 million in the next quarter. A quarter is a three-month part of the year. That would make the total raise even bigger.
How will Square Yards use the funds?
The company has a few clear plans for the money. First, it wants to make its balance sheet stronger. A balance sheet shows what a company owns and what it owes. A stronger one means more cash and less worry about old debts.
Second, it wants to enter more markets and grow. Third, it will spend on technology. That means the apps and tools that run its platform. Fourth, the money helps it get ready for an IPO. An IPO, or Initial Public Offering, is the first time a company sells its shares to the public on the stock market.
What does Square Yards actually do?
Square Yards started in 2014. It was founded by Tanuj Shori and Kanika Gupta Shori. Tanuj Shori worked in banking before he built the company. The company began by helping people find homes to buy. Over time it grew into a full home and money platform.
Today it helps with the whole job of owning a home. You can search for a property, get a home loan, design the inside of the house, and manage rentals. It is all in one place. It does this with many brands. Urban Money helps with loans. Azuro handles rentals. Interior Company does design. And PropVR lets you tour a property online.
Square Yards is not only in India. It also works in the UAE, Australia, and Canada. This wide reach helps it serve Indians who live abroad. They may want to buy a home back in India or in another country.
The numbers behind the deal
Square Yards has been growing fast. In its last financial year, it earned Rs 2,086 crore. This is called revenue. Revenue is the total money a company makes from its sales and services. That number was 48% higher than the year before.
Its EBITDA also went up, to Rs 176 crore. That is about 3.7 times more than before. EBITDA is one way to measure profit from a company’s main work. It is counted before taxes, interest, and the cost of equipment. When EBITDA goes up, it means the main business is making more money.
| Key fact | Detail |
|---|---|
| Amount raised | Rs 900 crore (~$95 million) |
| Valuation | More than $1 billion (unicorn) |
| Lead investor | EAAA Alternatives |
| Other investor | Muzinich & Co. |
| Funding type | Mix of equity and debt |
| Additional raise planned | $50 million–$60 million next quarter |
| Annual revenue | Rs 2,086 crore (up 48% YoY) |
| EBITDA | Rs 176 crore (up ~3.7x) |
| Founded | 2014, by Tanuj Shori & Kanika Gupta Shori |
| Markets | India, UAE, Australia, Canada |
What the founder said
Founder and CEO Tanuj Shori called the deal “a profound validation of our resilient business model”. In simple words, he means the investment proves the company’s way of working is strong. It works well even in hard times.
FAQ
How much did Square Yards raise?
Square Yards raised Rs 900 crore. That is about $95 million. The money came as a mix of equity (a part of the company) and debt (borrowed money). The company also plans to raise another $50 million to $60 million soon.
Why is Square Yards now a unicorn?
A unicorn is a private startup worth $1 billion or more. The new funding round priced Square Yards above that mark. So it became a unicorn.
Who invested in this round?
The deal was led by EAAA Alternatives. A global firm called Muzinich & Co. also took part. EAAA was the anchor. That means it was the lead and biggest backer.
Is Square Yards planning an IPO?
Yes. The company says some of the new money will help it get ready for an IPO. An IPO is the first sale of a company’s shares to the public on the stock market. The company did not give a date in this announcement.
Why it matters (especially for India / founders)
This deal is good news for India’s startup world. New unicorns have been rare lately. So a fresh one in proptech really stands out. It shows that investors still trust strong Indian companies.
Founders can learn something from this story. Square Yards did not only chase growth. It also grew its profit. You can see this in the sharp rise in EBITDA. Today investors like companies that grow and make money at the same time.
Mixing equity and debt was another smart move. It let the company raise a lot of money. And it kept more of the company with its founders. This is a useful plan for any startup that wants to raise big money before going public.
The takeaway
Square Yards crossing the $1 billion mark is a big moment for Indian proptech. It now has Rs 900 crore in new money, growing revenue, rising profit, and an IPO ahead. So the company has a clear path forward. The next few quarters, and the extra money it plans to raise, will show how fast it can grow.
Source: Financial Express
