Square Yards raises Rs 185 crore from Hong Kong-based ADM Capital
The company will use the capital to continue to expand and invest in various verticals across the value chain, the company said in a statement.
Property brokerage platform Square Yards has received around Rs 185 crore in growth financing from ADM Capital, a global investment manager with $2.4 billion assets under management across the Asia Pacific and Europe, the company said in a statement.
This capital infusion serves as the first tranche of the company’s ongoing plan of larger growth capital raise of over $100 million in the near term.
Square Yards will use the capital to continue to expand and invest in various verticals across the value chain, the company said in a statement.
The company has been building an integrated ecosystem of services organically as well as inorganically. It recently acquired platform capabilities in rentals/property management, data intelligence and VR space and has also launched its full-service platform offering home furnishing and home interior services.
“We have been fairly capital efficient since inception with a clear focus on delivering high ROI. With significant operational benchmarks met over the last 12 months, like profitability and pilot success of new initiatives like rental and property management, home interiors. We believe we are now at cusp of an accelerated growth curve,” said Tanuj Shori, founder and CEO, Square Yards.
Established in 1998, ADM Capital is experienced in providing flexible credit solutions to Asia Pacific’s leading mid-sized corporates. ADM Capital first entered the Indian market in 2004 and has since disbursed in excess of $670mn across 18 private financings. In conducting all its investment activities, ADM Capital focuses on the promotion of strong corporate governance and environmental and social compliance.
Christopher Botsford, co-founding partner and joint chief investment officer - ADM Capital, said, “Square Yards’ extensive customer and partnership network, capable sales team and market-leading fully-integrated software uniquely position it for success in an industry poised for growth. We are pleased to support Square Yards in its pursuit of scale and will continue to seek opportunities to support Indian corporates attempting to digitally disrupt traditional industries.”