Square Yards Secures $25 Million to Pursue "accelerated growth curve"

July 16, 2021
Share this Post: 

Indian end-to-end real estate marketplace Square Yards has announced that it has received $25 million in growth capital from Hong Kong-based ADM Capital.

The Gurgaon based PropTech firm has previously raised some $50 million in equity from the likes of Times Group and Genkai Capital as well as from PropertyGuru founders Steve Melhuish and Jani Rautiainen. The latest funds come as "venture debt" with Square Yards preferring not to shake up its shareholder portfolio at this time.

The funds come on the back of some important milestones for Square Yards with the company recently having reported full-year profitability for the first time and having successfully piloted adjacent products such as rentals and property management.

According to Founder & CEO Tanuj Shori, Square Yards' business is now at something of an inflexion point and the company will be seeking out more capital to fuel rapid growth in the coming months:

"We have been fairly capital efficient since inception with a clear focus on delivering high ROI. With significant operational
benchmarks met over the last 12 months, like profitability and pilot success of new initiatives like Rental & Property Management, Home Interiors, etc."

"We believe we are now at cusp of an accelerated growth curve. And with a strong institutional partner like ADM Capital, we believe we can now aggressively push towards Brand and personnel investments to achieve a much faster trajectory.”

Christopher Botsford, Co-founding Partner and Joint Chief Investment Officer - ADM Capital, added:

“Square Yards’ extensive customer and partnership network, capable sales team and market leading fully-integrated software uniquely position it for success in an industry poised for growth. We are pleased to support Square Yards in its pursuit of scale and will continue to seek opportunities to support Indian corporates attempting to digitally disrupt traditional industries."

ADM will be banking on Square Yards' diverse end-to-end business model which includes monetising the full gamut of real estate services including discovery, transactions, mortgages, interiors, rentals and property management in several global markets such as India, Canada and the Middle East.

In the past 12 months, Square Yards has ploughed money into acquisitions, in the shape of rental property management firm Azuro, data intelligence and asset management company PropsAMC and 3d tech firm PropVR. The company also launched an interior design and renovation platform, an adjacent revenue stream attracting growing attention from property marketplace businesses around the world.

July 16, 2021
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Shutterstock 1454624438
U.S. Portal Operator OJO Labs Acquires The LEAD Syndicate

The U.S. PropTech operator OJO Labs has announced that it has acquired The LEAD Syndicate, a provider of teach solutions...

Read More
Onthemarket Employees
OnTheMarket PR Push Continues with Agent Signups and Roadshow

The UK's number three portal OnTheMarket (OTM) is definitely ramping up its PR in the early months of 2024 with...

Read More
Product Roundup 13March24
Product Roundup: FangDD, Yandex, Redfin, Realtor.com, Keyper, OneDome and MagicBricks

Another week, another big product roundup for portals and proptechs worldwide. Here's what we've spotted...   FangDD shares soar 80%...

Read More
Proptechfundingroundup060324
PropTech Funding Roundup: Cove, FOIP, EasyKnock, GoFlint, Rukita

While the average value of this week's proptech fundraising roundup hovers around the $3M mark, one of today's featured startups...

Read More