Square Yards Nears Unicorn Status with Major Investment

Square Yards, a real estate technology company, has secured USD 35 million from investors at a valuation of USD 900 million. The company, focusing on property brokerage and home loans, plans to further raise USD 100 million to achieve a USD 1 billion valuation and enhance its business reach.

Real estate technology firm Square Yards has raised USD 35 million from investors, including Smile Gate, at a USD 900 million valuation, sources revealed. The Gurugram-based company, specializing in property brokerage and home loans, reported a revenue of Rs 1,410 crore last financial year.

With a presence in India and the UAE, Square Yards saw its revenue surge by 44% to Rs 833.2 crore in the first half of this fiscal. The firm aims for a revenue target of Rs 2,000 crore by this fiscal's end.

The investment round led by Korean venture capital fund Smile Gate brings Square Yards' total funding to USD 170 million. The company plans to secure an additional USD 100 million, boosting its valuation over USD 1 billion to achieve Unicorn status.

(With inputs from agencies.)