Square Yards turns unicorn with ₹900 crore fundraise; eyes IPO after FY26 revenue jumps 48% to ₹2,086 crore
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Square Yards has raised ₹900 crore ($95 million) in a mix of debt and equity funding, achieving unicorn status with a valuation exceeding $1 billion and bolstering its plans for an initial public offering (IPO).
The latest round was anchored by EAAA Alternatives, with participation from global corporate credit manager Muzinich & Co. Sources said the funding comprised roughly one-third equity and two-thirds debt. The company said the capital will be used to strengthen its balance sheet, support expansion initiatives, enhance technology infrastructure and refinance existing debt.
Valuation crosses $1 billion mark
The fundraise comes less than a year after Square Yards secured $35 million in December 2025 at a valuation of around $900 million. With the latest round being completed at a higher valuation, the company has entered the unicorn club.
Founded as a property brokerage platform, Square Yards has expanded into an integrated real estate ecosystem spanning property transactions, home loans, rentals, interiors and property management. The company operates across India, the UAE, Australia and Canada.
Commenting on the development, Tanuj Shori, founder and CEO of Square Yards, said the investment validates the company's business model and growth strategy.
"This significant capital raise from such esteemed institutional partners is a profound validation of our resilient business model and our relentless pursuit of revolutionising the real estate ecosystem," Shori said.
Profitability strengthens ahead of public listing
The capital raise comes against the backdrop of strong financial performance. In FY26, Square Yards reported revenue of ₹2,086 crore, marking a 48% year-on-year increase, while EBITDA surged 3.7 times to ₹176 crore.
Shori said the company has built a profitable and scalable platform over the years and that the latest funding will help accelerate growth ahead of the planned IPO.
"As we gear up for our upcoming IPO, this capital raise will provide us with the strategic firepower to accelerate our market expansion, deepen our technological moats, and continue delivering exceptional value to our customers and stakeholders," he added.
Investors back growth in fragmented market
Amit Agarwal, CEO of EAAA Alternatives, said the investment thesis was centred on backing a profitable market leader operating in a highly fragmented industry with significant growth potential.
Muzinich & Co's Asia-Pacific CEO Andrew Tan said Square Yards has demonstrated an ability to scale rapidly while maintaining capital efficiency.
Beyond its core brokerage business, Square Yards also operates mortgage marketplace Urban Money, rental and property management platform Azuro, and home interiors business Interior Company. Urban Money facilitated loan disbursals worth ₹87,831 crore in FY26 through partnerships with more than 150 banks and non-banking finance companies. The company is also evaluating an additional capital raise of $50-60 million over the next quarter as part of its broader funding strategy.