Square Yards Reaches Unicorn Milestone with $95 Million Raise

By: Women Entrepreneurs Review Team | Tuesday, 23 June 2026

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.

Muzinich & Co., global corporate credit manager, was among the participants in the round, which was anchored by EAAA Alternatives, according to the press release.

The company, based in Gurugram, last rose its funding at a valuation in excess of $1 billion, the company said. The round is also one of the biggest fundraisings by an Indian Proptech firm in the past 5 years. According to the sources, Square Yards is also planning to raise an extra $50 to $60 million in the coming quarter for its initial public offering (IPO).

Conceived by Tanuj Shori and Kanika Gupta, Square Yards is a real estate platform that provides services across property transactions, home loans, property rentals, interiors and property management. The company operates in India, UAE, Australia and Canada.

The new funding is needed as the company's business grows well. In FY26, Square Yards' revenue rose 48% year-on-year to Rs 2,086 crore and the company's EBITDA surged by 3.7 times to Rs 176 crore, it revealed in its latest interim earnings.

Key Highlights:

• Square Yards became a unicorn after raising $95 million (₹900 crore) in debt and equity funding
• FY26 revenue rose 48% to ₹2,086 crore, with EBITDA reaching ₹176 crore
• The funding will drive expansion, technology upgrades, and IPO preparations

In addition to its primary property brokerage operations, Square Yards has a suite of businesses on the real estate value chain. These are mortgage marketplace Urban Money, the rental and property management company Azuro, and the home interiors company Interior Company.

A major source of growth for the group is Urban Money. The platform enabled the company to facilitate loans worth Rs 87,831 crore in FY26, with over 150 banks and NBFCs on its platform.

Tanuj Shori, founder and CEO of Square Yards, said the development validates the firm's integrated business model and will aid its expansion and enhance technology capabilities, in addition to assisting in investments for its prospective IPO.

The new round follows $35 million raised in the previous round led by South Korea's Smilegate Group at a post-money valuation of $935 million, which was seven months ago. In those days, the company was gearing up to raise additional $100 million via a combination of debt and equity financing prior to its plans for going public.

The company has also improved its financial condition in recent years. It recorded Rs 2,000 crore in operating revenue for the first time during FY26, and an EBITDA margin of 8% as compared to 3% in FY25.

As Indian real estate and housing finance markets buzz with how higher demand and digitization is rapidly transforming the real estate industry, Square Yards has become a unicorn, joining a handful of other Indian proptech startups.