PE-VC Fund Investments
Proptech firm Square Yards raises $35-M led by Smile Gate
Gurugram-based integrated real estate and mortgage platform Square Yards has raised USD 35 million (INR 312 crore), led by Korean venture capital firm Smile Gate. The round included other existing investors and valued the firm at USD 900 million.The firm is also in talks to raise an additional USD 100 million through a mix of debt and equity, at a unicorn valuation. The company is preparing for an Initial Public Offering (IPO) in 2026, targeting to raise INR 2,000 crore.Founded in 2014, Square Yards offers services to consumers including search & discovery, transaction, mortgages, home furnishing, rentals and property management. It is also building B2B (business-to-business) platforms for stakeholders such as developers, financial institutions, and agents.
Between Nov-16 and Jul-21, Square Yards had attracted about USD 57 M from Kae Capital, Reliance Capital, Genkai Capital, ADM Capital.For FY25, Square Yards had reported about INR 390.29 Cr in Operating Income and about INR 5.56 Cr in Net Loss.
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