Square Yards raises $35 million at $900 million valuation, plans Rs 2,000 crore IPO in 2026

Square Yards raises $35 million at $900 million valuation, plans Rs 2,000 crore IPO in 2026

Square Yards, a real estate and proptech platform, has raised $35 million in a fresh funding round led by Korean venture capital firm Smile Gate, along with participation from several existing investors as per company spokesperson.

The latest fundraise values the company at a pre-money valuation of $900 million, bringing it closer to the Unicorn club.

For FY25, Square Yards reported Rs 1,410 crore ($170 million) in revenue and Rs 46 crore ($6 million) in EBITDA, backed by a strong operational model and sustained demand across its domestic and international markets. The platform continues to grow with a 51 percent CAGR over the last four years, the company said.

Its trailing twelve-month revenue (ending September 2025) touched Rs 1,670 crore, while EBITDA surged to Rs 120 crore.

According to industry sources, Square Yards is currently in advanced negotiations to raise an additional $100 million from a couple of large global funds. The upcoming round is expected to be a mix of debt and equity. If completed at the anticipated valuation, this fundraise will propel Square Yards into Unicorn territory.

Sources said that the company is also preparing for Rs 2,000 crore Initial Public Offering (IPO) slated for calendar year 2026, signaling its ambition to build a long-term, publicly listed enterprise with global scale.

Square Yards has presence across India, the Middle East, Australia, and Canada. The company helps customers find properties, access brokerage and mortgage services, design interiors, manage rentals, handle property upkeep, and receive support even after the sale.

It also offers easy-to-use technology and transaction solutions for developers, brokers, financial institutions, and other partners in the industry.