The Proptech space in India is getting more competitive but Square Yards, founded in 2014 by Tanuj Shori and Kanika Gupta , has held its own over the years. It is now the biggest proptech and mortgage marketplace in India. The tech-driven company aspires to be the first name that comes to the mind of every Indian family when it comes to property.
Square Yards has now managed to get the Times Group on board as a strategic investor in its latest funding round. $20 million in equity capital has been raised by the company from the Times Group and several other investors including Koh Boon Hwee, the ex-Chairman at Singtel & DBS, PropertyGuru founders Steve Melhuish and Jani Rautiainen and Genkai Capital along with a few current investors.
Square Yards co-founder Tanuj Shori expressed his delight at getting the Times Group on board and stated that this association will go a long way towards firmly establishing the real estate brand in the market and improve its relatability amongst the buying audience. Equally ecstatic was Sam Subramaniam from the Times Group, who opined that Square Yards solves the home buying problems of numerous individuals by helping them purchase their highly coveted houses while also helping developers get buyers for their projects. The Times Group is pleased to be a shareholder in the company, according to him and will keep supporting Square Yards en route towards future growth.
Till now, Square Yards has raised equity funding to the tune of $50 million while debt financing accounts for more than $25 million. With this new association, Square Yards will be hoping to strategically scale up its overall brand outreach throughout the country.
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.