Square Yards Joins Unicorn Club After $95M Funding Round

India's integrated property technology firm, Square Yards, has officially achieved a valuation exceeding $1 billion, cementing its status as a unicorn following a significant funding injection. The latest capital raise, totaling approximately $95 million, was anchored by prominent institutional investors EAAA Alternatives and global credit manager Muzinich & Co. This infusion, comprising a blend of debt and equity, marks a pivotal moment for the Gurugram-based company, positioning it for its next phase of expansion and a potential public offering.

The substantial funding round underscores a growing investor confidence in India's residential real estate sector and the ongoing digital transformation of property transactions. This is particularly noteworthy given the current cautious global investment climate. Square Yards' impressive financial performance in fiscal year 2026 provides a strong foundation for this valuation. The company reported a 48% year-on-year revenue increase, reaching INR 2,086 crore, while its EBITDA surged by 3.7 times to INR 176 crore. This resulted in a significant expansion of its EBITDA margin to 8%, up from approximately 3% in the prior fiscal year, demonstrating a clear path toward profitability.

Beyond its core brokerage services, Square Yards has strategically diversified its business model, creating a comprehensive ecosystem within the real estate value chain. Its portfolio includes the mortgage marketplace Urban Money, the rental and property management platform Azuro, and the home interiors brand Interior Company. Urban Money has become a key growth driver, facilitating loan disbursements exceeding INR 87,831 crore in FY26 through a network of over 150 financial institutions. This expansion into financial services taps into India's burgeoning home loan market, offering higher-margin revenue streams and recurring income potential.

With a global footprint spanning India, the UAE, Australia, and Canada, Square Yards leverages international demand, particularly from the Indian diaspora, for domestic property. The company is reportedly preparing for an Initial Public Offering (IPO) valued at approximately INR 2,000 crore, with an anticipated listing in calendar year 2026. Sources suggest the company aims for a post-IPO valuation of at least $1.5 billion. The offering is expected to balance new equity issuance with a sale of existing shares, with founders maintaining a significant stake, indicating a commitment to long-term value creation.

This latest funding round follows a $35 million investment in November 2025 led by Smilegate Group, which valued the company at $935 million. Prior to that, the company secured funding in 2019 from investors including Bennett Coleman & Co. and Genkai Capital at a valuation around $300 million. The journey from a startup to a unicorn preparing for public markets highlights the maturation of India's proptech industry and Square Yards' strategic evolution towards sustainable growth and profitability. The company's ability to navigate the complexities of public markets will be closely watched by industry observers.