Proptech Giant Square Yards Hits $1 Billion Valuation in $95 Million Funding Round Ahead of IPO

Square Yards, India’s fully integrated real estate and mortgage technology platform, has officially secured a spot in the unicorn club. The company announced it has raised ₹900 crore (around $95 million) in a mixed debt-and-equity funding round, pushing its market valuation past the coveted $1 billion threshold.

The mega-round was anchored by institutional investor EAAA Alternatives, with major participation from global corporate credit manager Muzinich & Co. According to industry insiders, the structure of the capital injection is divided into roughly one-third equity and two-thirds debt.

This financial milestone represents one of the single largest fundraises witnessed by an Indian proptech company over the last five years, solidifying Square Yards' transition from a localized digital brokerage into a global real estate conglomerate.

Surging Financials and the Path to Profitability

The valuation jump comes on the back of a standout fiscal year. Square Yards crossed a major milestone in FY26, reporting an operating revenue of ₹2,086 crore—a massive 48% year-on-year increase. More importantly, the company proved its capacity for capital efficiency. Its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) surged a remarkable 3.7 times to ₹176 crore, pushing its EBITDA margins out to 8% from a modest 3% in FY25.

Reflecting on the milestone, Tanuj Shori, Founder & CEO of Square Yards, emphasized that the fresh capital provides the necessary runway for their next major chapter:

"We have spent the last few years building a highly profitable, scalable, and fully integrated platform. 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."

The Multi-Vertical Ecosystem Driving the Growth

Unlike traditional property classification sites, Square Yards has meticulously built an ecosystem that owns the entire value chain of the real estate transaction. Its adjacent consumer verticals have emerged as core drivers of its financial success:

• Urban Money: The group’s fintech and mortgage marketplace has become its crown jewel, facilitating a massive ₹87,831 crore in home loan disbursals during FY26 alone through deep-rooted digital integrations with over 150 banks and NBFCs.
• Azuro: A highly scalable rental and property management platform.
• Interior Company: Its fully-owned home interiors and modular furnishing wing.
• PropVR: An advanced AI-powered tool facilitating immersive 3D, virtual, and augmented reality home tours.

Amit Agarwal, CEO of EAAA Alternatives, noted that Square Yards' unique position in a fragmented market made it a premium investment choice. “Our thesis was anchored in backing a profitable market leader operating with significant operating leverage... providing a long runway for future growth,” Agarwal stated.

Next Steps: IPO and Parallel Tranches

With a global footprint spanning India, the UAE, Australia, and Canada, Square Yards is keeping its foot on the gas pedal. The company is already in active discussions to secure an additional $50 million to $60 million over the next quarter as part of its ongoing capital strategy, potentially targeting a valuation closer to $1.6 billion.

The primary objective of these back-to-back fundraises is to bulletproof the company's balance sheet ahead of its projected ₹2,000 crore public market debut.

Square Yards now joins an elite, highly exclusive circle of Indian proptech unicorns—a space heavily fueled by India's rapidly expanding urbanization, digital housing finance adoption, and thriving post-pandemic real estate demand.