The biggest tech-driven real estate brokerage entity in the country, Square Yards, has recently raised an additional $20 million in equity capital from several investors including Times Group, founders of PropertyGuru Jani Rautiainen and Steve Melhuish, Genkai Capital and Koh Boon Hwee, the ex-chairman at Singtel & DBS. Some of the company’s existing investors also participated in this funding round.
Tanuj Shori, the co-founder at Square Yards, stated that having the Times Group as a strategic investor will help immensely with regard to firmly establishing the brand as the first point of contact for any Indian household with regard to their real estate requirements. Sam Subramaniam from The Times of India Group, stated that Square Yards is certainly an innovative company that is enabling people to purchase dream homes while also helping real estate developers find more buyers for their apartments. He talked of how the Times Group is proud to be one of the company’s shareholders will be supporting Square Yards in the future towards achieving greater success.
Square Yards was founded in the year 2014 by IIM and Wharton alumnus, Tanuj Shori and Kanika Gupta, respectively. It is now the biggest marketplace in India for Proptech and mortgages. Square Yards has raised $50 million till now in equity with debt financing of more than $25 million ever since its journey commenced.
Square Yards is a technology-enabled, global real estate aggregator and India’s largest player for primary residential real estate. It’s subsidiary Square Capital is one of the largest marketplace for secured mortgages in India. Square Yards platform offers an integrated consumer experience & covers the full real-estate journey from search, discovery to research, transactions, home loans and post-sales service – fully integrating buyers to an extensive network of 500+ partner real estate developers, and 90+ banks & NBFCs. Square Yards is led by accomplished professionals, ex-bankers, and Ivy school alumni and is backed by the competence of more than 2500 employees in 30 cities and ten countries.