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Square Yards has secured USD 35 million in new funding from investors led by Korean venture capital firm Smile Gate, taking the company's pre-money valuation to USD 900 million. The Gurugram-based real estate technology firm, active in property brokerage and home loans, has recorded steady financial growth. It posted INR 1,410 crore in revenue in the last financial year and reported a 44% rise in revenue during the first half of the ongoing fiscal. The company, which operates in India and the UAE, is also working on raising an additional USD 100 million at a valuation exceeding USD 1 billion.
Square Yards has received USD 35 million from a group of investors led by Smile Gate, resulting in a pre-money valuation of USD 900 million. Sources confirmed the development and mentioned that participation also came from some of the company's existing backers. The firm did not offer any formal comment on the funding round. Advertisement
The company, based in Gurugram, operates mainly in property brokerage and home loan services. It reported revenue of INR 1,410 crore in the previous financial year. In the first half of the current fiscal, its revenue increased by 44% to INR 833.2 crore, reflecting consistent business traction across its markets.
So far, Square Yards has raised USD 170 million, including the latest round. People familiar with the matter stated that the company is also in discussions to raise an additional USD 100 million. This upcoming round is expected to value the business at more than USD 1 billion, which would place Square Yards among the country's Unicorns once completed.
Along with its operations across major Indian cities, Square Yards is also active in the UAE market. The company is aiming to achieve INR 2,000 crore in revenue during the ongoing financial year, supported by expansion across its core business segments and continued investor interest.
Source PTI
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