Square Yards, a leading real estate and mortgage platform, has achieved unicorn status following a successful Rs 900 crore ($95 million) funding round. This milestone positions the Gurugram-based company for an initial public offering (IPO), marking a significant step in its growth trajectory. As the Indian real estate sector continues to evolve with technology integration, this development underscores the increasing investor confidence in proptech startups.
### Square Yards: A Comprehensive Real Estate Platform
Founded by Tanuj Shori and Kanika Gupta, Square Yards operates an integrated platform that caters to various aspects of the real estate market, including property transactions, home loans, rentals, interiors, and property management. The company has expanded its operations beyond India to include markets in the UAE, Australia, and Canada, reflecting its global ambitions. With reported revenue of Rs 2,086 crore ($223 million) for the fiscal year 2026, a 48% increase from the previous year, Square Yards has demonstrated robust financial growth.
The company’s portfolio includes several brands aimed at different segments of the real estate value chain. Urban Money, its mortgage marketplace, has emerged as a significant growth driver, facilitating loan disbursals of Rs 87,831 crore in FY26. Other brands under its umbrella include Azuro for rentals and property management, and Interior Company for home interiors and modular furnishings. These diverse offerings have enabled Square Yards to create a comprehensive ecosystem within the real estate sector.
### Funding Environment and Competition
The Rs 900 crore funding round was led by EAAA Alternatives and saw participation from global corporate credit manager Muzinich & Co. This latest investment follows a $35 million round in November 2025 led by Smilegate VC. The fresh capital injection values Square Yards at over $1 billion, highlighting the strong investor interest in proptech companies.
Square Yards operates in a competitive landscape that includes other real estate technology firms such as NoBroker, Housing.com, and MagicBricks. However, its comprehensive service offerings and international operations provide it with a competitive edge. The company’s focus on technology-led platforms, including data intelligence tools and PropVR for virtual property experiences, further enhances its market position.
### Implications for India’s Startup Ecosystem
Square Yards’ unicorn status is a testament to the growing maturity of India’s startup ecosystem, particularly in the proptech sector. As more startups achieve unicorn status, it reflects a broader trend of increased venture capital interest and the potential for IPOs within the Indian market. This development could inspire other startups in the sector to pursue aggressive growth strategies and seek similar valuations.
The company’s success also highlights the importance of diversification and technological innovation in achieving scalability and profitability. By addressing various facets of the real estate industry through different brands, Square Yards has positioned itself as a formidable player capable of weathering market fluctuations.
### Looking Ahead
As Square Yards prepares for its IPO, the market will be closely watching its next moves, particularly in terms of expansion and technological advancements. For founders and investors, the company’s trajectory offers valuable insights into the strategies that can lead to unicorn status in the Indian startup landscape. The upcoming IPO will not only test market confidence in Square Yards but could also set a precedent for future proptech listings in India.
