Indian proptech giant Square Yards has officially entered the coveted unicorn club after securing ₹900 crore ($95 million) in a fresh funding round. This landmark capital raise was anchored by real estate investment firm EAAA Alternatives, with active participation from global corporate credit manager Muzinich & Co. The transaction structured a strategic combination, featuring one-third equity and two-thirds debt. This financial structure effectively pushed the company’s market valuation beyond the $1 billion threshold, cementing its position as India’s 131st startup unicorn.
During the last fiscal year (FY26), Square Yards crossed the ₹ 2,000 crore revenue milestone for the first time, reporting operating revenue of ₹2,086 crore. This highlights a stellar 48% year-on-year growth compared to the previous year.
Simultaneously, the company’s EBITDA jumped 3.7 times to ₹ 176 crore, which expanded its operational profit margins from 3% up to 8%. This remarkable operational scale was primarily supercharged by its mortgage marketplace, Urban Money, alongside growth in home interiors and property management divisions.
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According to co-founder and CEO Tanuj Shori, this strategic capital will act as “strategic firepower”. The startup will use the fresh capital to refinance its existing debt, scale global operations, and deepen its technical moats. More importantly, it establishes a rock-solid runway for Square Yards’ impending public market debut. The proptech platform is aggressively preparing for a massive ₹ 2,000 crore Initial Public Offering (IPO).
Founded in 2014 by Tanuj Shori and Kanika Gupta Shori, Square Yards has transformed from a traditional property search tool into an integrated full-stack property ecosystem across India, the UAE, Australia, and Canada.
