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 US$271.6M 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 US$191.5M and a swing to profitability with EBITDA of US$6.22M . 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.
