Square Yards, an online real estate and mortgage platform, has achieved unicorn status after raising ₹900 crore (approximately $95 million) from investors, making it the sixth unicorn of 2025. The funding round was led by EAAA Alternatives, with participation from global corporate credit manager Muzinich & Co. Sources confirmed that the funding was raised at a valuation of $1 billion and comprised a mix of debt and equity. The company stated that the equity valuation in this latest round was significantly higher than its previous fundraise. Square Yards also announced plans to raise an additional $50-60 million over the next quarter as part of its ongoing capital strategy.
The company’s financial performance has shown strong growth trajectory. Square Yards reported revenue of ₹2,086 crore in FY25, marking a 48% year-on-year increase. The company’s EBITDA rose 3.7 times to ₹176 crore during the same period. Square Yards has delivered a five-year revenue compound annual growth rate of around 53%, demonstrating consistent expansion in the competitive real estate technology sector. The latest funding round follows a $35 million raise in November last year, led by Korean venture capital firm Smilegate, which valued the company at a pre-money valuation of $900 million.
The capital infusion will be utilized to strengthen the company’s balance sheet, support further market expansion, and bolster its technology infrastructure as it prepares for its initial public offering. Tanuj Shori, founder and CEO of Square Yards, emphasized the strategic importance of this funding. He stated that as the company gears up for its IPO, this capital raise will provide strategic firepower to accelerate market expansion, deepen technological capabilities, and continue delivering exceptional value to customers and stakeholders.
Amit Agarwal, CEO of EAAA Alternatives, explained the rationale behind the investment decision. The investment thesis was anchored in backing a profitable market leader operating with significant operating leverage in a highly fragmented market, providing a long runway for future growth. He noted that this investment further strengthens EAAA Alternatives’ Special Situations Strategy, which provides bespoke solutions to businesses, supporting growth, refinancing, and balance sheet optimization.
Square Yards operates in the online real estate and mortgage platform space, serving customers across multiple markets. The company’s business model focuses on leveraging technology to streamline real estate transactions and mortgage processes. The platform has established itself as a significant player in the Indian proptech sector, competing in a market that remains largely fragmented. The company’s path to profitability and consistent revenue growth has positioned it favorably for its upcoming public market debut.
