Real Estate Platform Square Yards Raises ₹900 Crore, Becomes Unicorn
Real estate consultant Square Yards on Tuesday said it has raised Rs 900 crore from investors to grow business and refinance debt. In a statement, the company said it has raised Rs 900 crore, comprising a mix of debt and equity. The funding round was anchored by EAAA Alternatives and saw participation from global corporate credit manager Muzinich & Co. Square Yards said the equity fund was raised at a valuation higher than its previous round. Sources said the fund was raised at a valuation of more than USD 1 billion, thereby helping the company to achieve unicorn status. During the last fiscal, Square Yards reported revenue of Rs 2,086 crore, a 48 per cent year-on-year growth. The EBITDA jumped 3.7 times to Rs 176 crore. Square Yards offers integrated services, including property search, transactions, home loans, interiors, and property management. The fund will help fortify its balance sheet while enabling the company to fuel further expansion and strengthen its technologica
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