Real estate and mortgage platform Square Yards has entered the unicorn club after raising Rs 900 crore (around $95 million) in a funding round comprising a mix of debt and equity.
According to the press release, the round was anchored by EAAA Alternatives and also saw participation from global corporate credit manager Muzinich & Co.
The Gurugram-based company said the latest funding was raised at a valuation exceeding $1 billion. The round is also among the largest fundraises by an Indian proptech company in the last five years. As per sources, Square Yards is also in talks to raise an additional $50–60 million over the next quarter at a valuation of around $1.6 billion, similar to the valuation in the current round, as it prepares for its IPO.
Founded by Tanuj Shori and Kanika Gupta, Square Yards operates a real estate platform that offers services across property transactions, home loans, rentals, interiors, and property management. The company has a presence across India, the UAE, Australia, and Canada.
The fresh capital comes amid strong growth in the company's business. According to Square Yards, its revenue grew 48% year-on-year to Rs 2,086 crore in FY26, while EBITDA jumped 3.7 times to Rs 176 crore.
Apart from its core property brokerage business, Square Yards has built a portfolio of businesses across the real estate value chain. These include mortgage marketplace Urban Money, rental and property management platform Azuro, and home interiors brand Interior Company.
Urban Money has emerged as a key growth driver for the group. The company said the platform facilitated loan disbursals worth Rs 87,831 crore in FY26 through partnerships with more than 150 banks and NBFCs.
Commenting on the development, Tanuj Shori, founder and CEO of Square Yards, said the investment validates the company's integrated business model and will help accelerate expansion, strengthen technology capabilities, and support preparations for its planned IPO.
The latest round comes seven months after Square Yards raised $35 million in a funding round led by South Korea-based Smilegate Group at a post-money valuation of $935 million. At the time, Entrackr had reported that the company was planning to raise another $100 million through a mix of debt and equity financing ahead of its public listing plans.
The company has also strengthened its financial profile over the past few years. In FY26, it crossed Rs 2,000 crore in operating revenue for the first time, while EBITDA margin expanded to 8% from 3% in FY25.
Square Yards joins a small group of Indian proptech startups to achieve unicorn status at a time when the country's real estate and housing finance markets are witnessing strong demand and increased digitisation.