Indian proptech startup, Square Yards, has raised $20 million in equity capital from a group of investors comprised of existing and newly joined venture capital firms.
The Gurugram-based company said that with the latest fundraiser, it wants to aggressively ramp up its investments in strengthening its technology infrastructure.
It is also looking to build a go-to consumer brand, as well as expand to newer geographies in emerging countries, especially those that have a large primary residential market and fragmented distribution, it added.
With the current round of investments, the company’s expected valuation is estimated to be in the range of $260 million – $300 million.
Square Yards was founded by Tanuj Shori and Kanika Gupta in 2014. It is a technology-led real estate brokerage and mortgage marketplace, which claims to be moving $1 billion worth of assets annually, with revenue run rate of $44 million.
Tanuj Shori, Co-Founder of Square Yards, said, “With the conclusion of this round, more than the capital, what we have truly gained is some very distinguished global expertise on our advisory board. We are very fortunate to have them guide us in our path to create one of the largest consumer tech business emerging out of India.”
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