Square Yards Moves Closer to Unicorn Status With New $35M Raise
Square Yards, one of India’s most prominent proptech startups, has taken another step toward its long-anticipated IPO after securing $35 million in new funding . The round was reportedly led by South Korea–based Smilegate InvestmentDealroom has a profile for this one. Try Dealroom → , with participation from existing investors, and values the company at a pre-money valuation of $900 million — placing it within reach of the unicorn threshold.
Founded in 2014, Square Yards built its reputation by offering an expansive suite of real-estate services covering property search, financing, interiors, and property management. Its model integrates all major stakeholders in the housing market — buyers, tenants, owners, agents, builders — into one platform. Over the past decade, this full-stack approach has helped the company scale not only across India but also into the Middle East, Australia, and Canada.
The new funding arrives at a crucial moment. Square Yards is preparing for an IPO of INR 2,000 crore next year, with plans to file its DRHP between December 2025 and March 2026. According to reports, the company is also in advanced talks to raise an additional $100 million in a mix of equity and debt at a post-money unicorn valuation , which would formally place it in the coveted billion-dollar club.
Behind the fundraising momentum is strong operational performance. Square Yards recently announced FY25 revenue of INR 1,409.9 crore (~$170M) and a swing to profitability with EBITDA of INR 45.8 crore (~$5.5M) . Its international business continues to complement robust domestic growth, while early FY26 results point to rising momentum: revenue for the first half of FY26 grew 44% year-over-year , accompanied by a return to positive EBITDA.
For Square Yards, the latest funding round is more than just additional capital — it signals investor confidence at a pivotal time. As the company advances toward its IPO and eyes unicorn status, it positions itself as one of India’s leading contenders in the rapidly maturing proptech market.
A.M.
