Proptech firm Square Yards has raised $35 million in fresh equity funding led by South Korea–based Smile Gate Group, with participation from existing backers. The round values the company at $900 million, bringing it closer to the unicorn mark as it prepares for a potential public listing.
Founded in 2014, Square Yards has evolved into a fully integrated platform spanning real estate brokerage, rentals, property management, home interiors, and mortgage distribution. Its fintech arm, Urban Money, offers housing, secured, and personal loans. A majority of its business and about 87% comes through partner-led channels including brokers, advisors, and lending institutions.
The company has facilitated ₹12,000 crore worth of property transactions and ₹66,000 crore in loans in the past 12 months. Square Yards reported ₹1,410 crore in revenue for FY25 with ₹46 crore EBITDA, supported by strong demand in real estate and rising mortgage volumes.
Growth has accelerated in FY26. For the twelve months ending September 2025, revenue climbed to ₹1,670 crore while EBITDA improved to ₹120 crore as the company sharpened profitability. In Q2 FY26 alone, revenue grew 43% year-on-year to ₹455.5 crore, with the India business led mainly by its fintech offerings now contributing 85% of total revenue.
Square Yards last raised funding in 2021 and competes with platforms like NoBroker, the country’s first proptech unicorn.
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