Real estate and mortgage platform Square Yards has officially joined India’s unicorn club after raising ₹900 crore (approximately $95 million) through a combination of equity and debt financing. The funding values the Gurugram based proptech company at over $1 billion, making it one of the few Indian real estate technology startups to achieve unicorn status.
The round was anchored by EAAA Alternatives and also attracted participation from global corporate credit manager Muzinich & Co. The transaction marks one of the largest capital raises by an Indian proptech company in the last five years and comes as Square Yards accelerates preparations for a public listing.
Funding Fuels Growth And IPO Ambitions
According to sources familiar with the matter, Square Yards is also exploring an additional funding round of $50–60 million over the next quarter. The company is expected to raise the capital at a valuation similar to the current round as it moves closer to its planned initial public offering (IPO).
Founder and CEO Tanuj Shori said the fresh capital validates the company’s integrated business model and will help strengthen technology capabilities, expand operations, and support future growth initiatives.
The latest investment comes just seven months after the company raised $35 million from South Korea based Smilegate Group at a valuation of $935 million, highlighting strong investor confidence in the business.
Strong Revenue Growth Drives Investor Interest
Square Yards has delivered significant financial growth over the past year.
According to the company, revenue increased 48% year-on-year to ₹2,086 crore in FY26, crossing the ₹2,000 crore milestone for the first time. At the same time, EBITDA surged 3.7 times to ₹176 crore.
The company’s EBITDA margin also improved substantially, rising from 3% in FY25 to 8% in FY26, reflecting greater operational efficiency and scale.
The strong financial performance has helped position Square Yards as one of India’s fastest-growing proptech companies.
Building A Full-Stack Real Estate Ecosystem
Founded by Tanuj Shori and Kanika Gupta, Square Yards has evolved beyond traditional property brokerage into a diversified real estate technology platform.
The company offers services across property buying and selling, home loans, rentals, interiors, and property management. It currently operates in India as well as international markets including the UAE, Australia, and Canada.
Over the years, Square Yards has built a portfolio of businesses designed to cover the entire real estate value chain.
Its mortgage marketplace, Urban Money, has emerged as a major growth engine for the group. During FY26, the platform facilitated loan disbursals worth ₹87,831 crore through partnerships with more than 150 banks and non-banking financial companies.
The company also operates rental and property management platform Azuro, along with home interiors business Interior Company, expanding its presence across multiple consumer touchpoints.
Indian PropTech Sector Gains Momentum
Square Yards’ unicorn milestone comes at a time when India’s real estate sector is witnessing increased digitization, rising housing demand, and growing adoption of technology-driven services.
Investors have shown renewed interest in companies that combine strong revenue growth with clear profitability pathways, particularly in sectors linked to housing, mortgages, and financial services.
Industry experts believe platforms that offer integrated solutions across property transactions, financing, rentals, and home services are well positioned to benefit from the ongoing transformation of India’s real estate market.
With more than ₹2,000 crore in annual revenue, expanding profitability, and a growing portfolio of complementary businesses, Square Yards is now entering its next phase of growth as it prepares for a potential IPO.
Its elevation to unicorn status underscores both the company’s scale and the increasing maturity of India’s proptech ecosystem, which continues to attract significant investor attention despite broader funding market challenges.
