<article>Online realty startup Square Yards has raised $10 million from HNIs, while software firm RateGain is looking to acquire companies abroad.</article>

Online realty startup Square Yards has raised $10 million from HNIs, while software firm RateGain is looking to acquire companies abroad.
<h3>Square Yards raises $10m from HNIs</h3>
Online-to-offline real estate player <a style="color: #000080;" href="http://dealstreetasia.com/tag/square-yards" target="_blank">Square Yards </a>has raised $10 million from high net worth individuals including global beauty brand L&#8217;OccitaneCEO Andre Hoffman and the family office of Kanpur-based Lohia Group, according to <a style="color: #000080;" href="http://tech.economictimes.indiatimes.com/news/startups/real-estate-transaction-player-square-yards-raises-10m/56490706" target="_blank">a report</a> in The Economic Times.
This latest part debt-part equity round comes only a couple of months after the company raised $12 million in equity from private equity arm of Anil Ambani-led <a style="color: #000080;" href="http://dealstreetasia.com/tag/reliance-group" target="_blank">Reliance Group</a>. The investor however, did not participate in this round.
According to the report, over 70 per cent of the financing is debt based in the form of convertible notes issued for a fixed term at a predetermined coupon rate. Investors will have the option to convert their debt portion into equity (at a discount) when the company raises its next round of funding.
“The idea is to have working capital for a 12-15 month period to support our growth rate,&#8221; Tanuj Shori, CEO of Square Yards, told the news paper.
It plans to expand into newer international geographies as well as launch new verticals. Large part of the capital raised will be invested into its two new verticals -Square Connect, a broker aggregation platform, and Square Care, a property management service for its NRI clientele, the report said.
<h3>Software firm RateGain eyes buyouts abroad with $50m warchest</h3>
Noida-based software firm<a href="http://dealstreetasia.com/tag/rategain" target="_blank"> RateGain</a> is looking to acquire at least two firms in the UK or the US this year for about $50 million, as per<a style="color: #000080;" href="http://tech.economictimes.indiatimes.com/news/corporate/with-50-m-rategain-travels-to-west-for-new-acquisitions/56491169" target="_blank"> a report </a>in The Economic Times citing sources.
“When we raised funding in 2015, it was to acquire companies in the sector that complement our business, &#8221; RateGain founder Bhanu Chopra told the news paper. “Our pipeline has never looked so strong and we will be acquiring at least two companies in 2017 with deal sizes between $10-30 million for each deal,&#8221; he said.
In RateGain had raised around $50 million from TA Associates in its first round of funding in January 2015.
The company is looking for companies that can help increase its global market share and also provide technologies.
“We&#8217;ve been scouting companies for a couple of years now, and valuation expectations in the market now are more realistic; not as frothy as it used to be,&#8221; said Chopra.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/square-yards-raises-12m-from-reliance-group-57734/" target="_blank">India: Online realty platform Square Yards raises $12m from Anil Ambani firm</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/real-estate-tech-startup-squareyards-in-talks-to-raise-funds-aims-to-be-profitable-this-year-30072/" target="_blank">EXCLUSIVE: India-based real estate tech player Squareyards in talks to raise $15-20m, aims to be profitable this year</a>
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Online realty startup Square Yards has raised $10 million from HNIs, while software firm RateGain is looking to acquire companies abroad.

India Digest: Square Yards raises $10m from HNIs; RateGain eyes overseas buyouts

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