Square Yards has entered the unicorn club after raising Rs 900 crore in a mix of debt and equity, valuing the real estate and mortgage platform at more than $1 billion. The round was anchored by EAAA Alternatives and also saw participation from global corporate credit manager Muzinich & Co, according to the company and reports. The fundraiser comes as Square Yards prepares for its maiden public issue.
Square Yards turns unicorn after Rs 900 crore fundraise
The company said the fresh capital will help strengthen its balance sheet, support expansion, and improve its technological infrastructure. Sources also noted that the latest round includes about one-third equity and two-thirds debt, with part of the money being used to refinance debt. Square Yards had earlier raised $35 million in December 2025 at a valuation of $900 million.
The funding milestone adds weight to Square Yards’ IPO plans at a time when the company says it has built a profitable and scalable platform. Tanuj Shori, founder and CEO, said the company is using the raise to accelerate market expansion and deepen its technology moat as it moves toward the public market.
What the funding means for Square Yards’ IPO and business model
Square Yards’ financial performance provides a stronger backdrop for fundraising. During FY26, the company reported revenue of Rs 2,086 crore, up 48% year-on-year, while EBITDA rose to Rs 176 crore, up 3.7 times. That growth matters because it shows the business is scaling with improving profitability, not just expanding for the sake of size.
The platform is no longer limited to property search alone. It now offers transactions, home loans, interior design solutions, and property management, while its broader ecosystem includes Urban Money, Azuro, Interior Company, and PropVR. That mix helps Square Yards position itself as a full-stack real estate services company rather than only a brokerage platform.
Since its inception, the company has raised $150 million in equity, and the latest round was completed at a higher valuation than the previous one. For the Indian proptech sector, the deal is a signal that investors are still backing firms that can combine scale, profitability, and a clear path to listing.
