Square Yards Becomes Unicorn After $95M Funding Round Ahead of IPO

Square Yards Co-Founders: Tanuj Shori and Kanika Gupta Shori

Gurugram-based proptech platform Square Yards has entered the unicorn club after securing Rs 900 crore (approximately $95 million) in fresh funding, achieving a valuation exceeding $1 billion.

The round was anchored by EAAA Alternatives, with participation from global corporate credit manager Muzinich & Co. The transaction ranks among the largest capital raises by an Indian proptech company over the past five years and positions Square Yards for its next phase of growth as it moves toward a public listing.

According to market reports, the company is also exploring an additional $50-60 million fundraising round over the coming quarter to further strengthen its balance sheet ahead of its anticipated IPO.

Who Founded Square Yards and What Problem Is It Solving?

Founded by Tanuj Shori and Kanika Gupta, Square Yards was built to simplify the fragmented property buying and financing journey.

What began as a digital property transaction platform has evolved into an integrated real estate ecosystem operating across:

• India
• UAE
• Australia
• Canada

Today, the company offers services across:

• Property transactions
• Home loans
• Property rentals
• Property management
• Home interiors
• Real estate advisory services

This end-to-end model differentiates Square Yards from traditional brokerage platforms by capturing value across multiple stages of the real estate lifecycle.

What Is Driving Square Yards' Rapid Growth?

Square Yards' unicorn milestone is supported by strong financial performance across its core businesses.

FY26 Financial Performance

Metric	FY25	FY26	Growth
Revenue	Rs 1,409 crore*	Rs 2,086 crore	48% YoY
EBITDA	Rs 48 crore*	Rs 176 crore	3.7x increase
EBITDA Margin	3%	8%	+5 percentage points
Valuation	$935 million (2025)	$1+ billion (2026)	Unicorn Status

*Derived from company-reported growth rates.

The company crossed Rs 2,000 crore in annual operating revenue for the first time in FY26, highlighting increasing demand for digital real estate services and housing finance solutions.

Why Is Urban Money Becoming a Key Growth Engine?

One of Square Yards' most important growth drivers is Urban Money, its mortgage marketplace platform.

In FY26, Urban Money facilitated loan disbursals worth Rs 87,831 crore through partnerships with more than 150 banks and non-banking financial companies (NBFCs).

The platform's scale demonstrates how Square Yards has expanded beyond property discovery into financial services, enabling the company to participate in India's growing housing finance market.

Alongside Urban Money, the group has built a diversified portfolio that includes:

Business Unit	Focus Area
Urban Money	Mortgage marketplace
Azuro	Rental and property management
Interior Company	Home interiors and furnishing
Square Yards Core Platform	Property transactions and advisory

This ecosystem strategy creates multiple revenue streams while increasing customer retention throughout the homeownership journey.

How Does This Funding Support Square Yards' IPO Ambitions?

According to Founder and CEO Tanuj Shori, the investment validates the company's integrated real estate model and will support:

• Technology development
• Product innovation
• Geographic expansion
• Operational scale
• IPO readiness initiatives

The latest raise follows a $35 million funding round completed seven months earlier, led by South Korea's Smilegate Group at a post-money valuation of $935 million.

The rapid increase from a $935 million valuation in 2025 to more than $1 billion in 2026 highlights investor confidence in Square Yards' business model and growth trajectory.

What Does Square Yards' Unicorn Status Mean for India's Proptech Sector?

Square Yards joins a select group of Indian proptech unicorns at a time when the country's real estate sector is experiencing increasing digital adoption, growing housing demand, and expanding mortgage penetration.

The company's milestone also reflects broader investor interest in technology platforms that combine property transactions, financial services, and home management solutions within a single ecosystem.

Globally, integrated property technology platforms are attracting significant capital as investors seek businesses capable of capturing multiple revenue opportunities across the real estate value chain.

For emerging innovation hubs across India, the UAE, and regional startup ecosystems such as ADGM, Hub71, and NEOM-backed innovation initiatives, Square Yards provides another example of how vertical technology platforms can scale into billion-dollar businesses by owning the entire customer journey rather than a single transaction point.

The Bigger Picture

Square Yards' journey from a digital property marketplace to a $1 billion proptech unicorn underscores a larger shift taking place across real estate technology. Rather than focusing solely on property listings, the company has built an integrated platform spanning transactions, mortgages, rentals, property management, and home interiors.

With FY26 revenue reaching Rs 2,086 crore, loan disbursals nearing Rs 88,000 crore through Urban Money, and IPO preparations underway, Square Yards is positioning itself as one of the most significant proptech success stories to emerge from India in recent years.

 

 

FAQ Schema

1. What is Square Yards?
Square Yards is an Indian proptech company offering property transactions, home loans, rentals, property management, and home interior services across India, the UAE, Australia, and Canada.

2. How much funding did Square Yards raise in 2026?
Square Yards raised Rs 900 crore (approximately $95 million) through a mix of debt and equity financing.

3. What is Square Yards' valuation after the latest funding round?
The funding round valued Square Yards at more than $1 billion, officially making it a unicorn startup.

4. What is Urban Money and why is it important?
Urban Money is Square Yards' mortgage marketplace platform. It facilitated Rs 87,831 crore in loan disbursals during FY26 through partnerships with over 150 banks and NBFCs.

5. Is Square Yards planning an IPO?
Yes. The company is preparing for an initial public offering (IPO) and is reportedly seeking an additional $50–60 million in funding to support its public market ambitions.