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Proptech platform Square Yards raises growth capital from Hong Kong based ADM Capital
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Proptech platform Square Yards has raised Rs 185 crore ($25 million) in growth financing from Hong Kong based ADM Capital, the company said in a statement.
The proceeds from the fundraise will be used to expand and invest in various verticals across the value chain.
The statement said that the fundraise forms part of the company’s larger gameplan to raise over $100 million in the near future.
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Square Yards has built an integrated ecosystem of services organically as well as inorganically. It recently acquired data intelligence and asset management firm PropsAMC in its attempt to grow inorganically. In the recent past, it has also acquired and added capabilities in rentals/property management, data intelligence and virtual reality and launched its full-service platform offering home furnishing and home interior services.
“We have been fairly capital efficient since inception with a clear focus on delivering high ROI (return on investment). With significant operational benchmarks met over the last 12 months, like profitability and pilot success of new initiatives like rental and property management, home interiors, etc. we believe we are now on the 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,” said Tanuj Shori, founder and chief executive officer, Square Yards.
Square Yards has been working towards providing an integrated ecosystem model and claims that it is one of the few real estate platforms globally that offers the full stack digital real-estate journey: search & discovery, transactions, mortgages, home interiors, rentals, property management and post-sales services. It also offers B2B SaaS services to real estate agents, property developers, banks and other financial institutions.
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It has presence in the Middle East, Australia and Canada.
Established in 1998, ADM Capital is experienced in providing flexible credit solutions to Asia Pacific’s leading mid-sized corporates. ADM Capital first entered the Indian market in 2004 and has since disbursed in excess of $670 million across 18 private financings.