Square Yards in Talks to Raise $100M at $1Bn 'Unicorn' Valuation Ahead of Rumoured IPO

Indian-based Proptech platform and real estate marketplace Square Yards is in talks to raise $100 million ahead of flotation in 2026.

Indian tech and startup news publication Inc42's exclusive, citing internal but unnamed sources, says Square Yards is discussing an equity+debt deal that would value the business at $1 billion, which would make Square Yards a unicorn

The fundraiser is suggested to be a "pre-IPO" round ahead of flotation in the 2026 financial year, with more than one private equity firm in talks to raise as much as $120M to take a stake in Square Yards.

The marketplaces' previous investment round was in 2019, led by Bennett Coleman & Co. at a valuation of circa $300M.

Square Yards operates in India, Australia, Canada and the Gulf, while Urban Money is present in over 250 cities. Square Yards raked in revenues of $29.5M in Q3 2023, with 85% of revenue driven by its real estate portal and its Urban Money financial services offering.

Indeed, Square Yards predicted that Urban Money expects to distribute over $3Bn in home loan sales in FY24—which would make Square Yards the de facto biggest mortgage marketplace in India.