Team StartupCity

• Proptech firm raises $35 Million, valuation climbs to $935 Million
• Plans to secure another $100 Million and enter unicorn club
• IPO targeted for 2026 as revenue and profitability surge

Square Yards has secured $35 million in a new equity round led by South Korea based Smile Gate Group, with participation from existing investors. The deal values the Gurugram-based proptech company at $935 million post-money, the company confirmed.

The fresh capital marks the start of Square Yards’ broader fundraising strategy as it prepares for Rs 2,000 crore IPO in 2026. According to sources, the firm is in advanced discussions to raise an additional $100 million from major global funds. The upcoming round is expected to include both equity and debt, and could push the company into the unicorn club, making it one of the few Indian proptech startups to reach a billion-dollar valuation. The investors involved in the talks are yet to be named.

Founded in 2014, Square Yards operates an integrated real estate and mortgage ecosystem covering property search, transactions, home loans, interiors, rentals, and asset management. Its fintech arm, Urban Money, also supports lending across home, personal, and secured loan categories.

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Over the past year, the company says it facilitated Rs 12,000 crore in property transactions and Rs 66,000 crore in loans. Square Yards reported Rs 1,410 crore in revenue for FY25 with Rs 46 crore EBITDA, supported by steady real estate demand and rising mortgage distribution. For the 12 months ending September 2025, revenue climbed to Rs 1,670 crore, while EBITDA rose sharply to Rs 120 crore, showing stronger operational efficiency ahead of its IPO.

Square Yards last raised $25 million in 2021 and $20 million in 2019. It competes with NoBroker, India’s first proptech unicorn.