Indian proptech startup Square Yards raises $25m from ADM Capital

Photo: Reuters

Square Yards, a property technology platform, on Friday said it has received $25 million in growth financing from Hong Kong-based investment manager ADM Capital. The capital infusion is the first tranche of the company’s ongoing plan of raising $100 million. Square Yards will use the funds to expand and invest in various verticals across the value chain.

ADM Capital provides flexible credit solutions and has about $2.4 billion assets under management across Asia Pacific and Europe.

Square Yards recently acquired platform capabilities in rentals and property management, data intelligence, and virtual reality (VR) space and also 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 & Property Management, Home Interiors, etc.; we believe we are now at cusp of an accelerated growth curve. 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 CEO , Square Yards.

ADM Capital entered the Indian market in 2004 and has since disbursed over $670 million across 18 private financing transactions.

Christopher Botsford, co-founding partner and joint chief investment officer, ADM Capital, said, “Square Yards’ extensive customer and partnership network, capable sales team and market leading fully-integrated software uniquely position it for success in an industry poised for growth. We are pleased to support Square Yards in its pursuit of scale and will continue to seek opportunities to support Indian corporates attempting to digitally disrupt traditional industries.”

Globally, the proptech industry has been creating an integrated digital consumer experience in all parts of the transaction, on both the buy- and sell-side which enable them to capture more of the transaction.

Square Yards as a real estate platform offers the full stack digital real estate journey from search and discovery, transactions, mortgages, home interiors, rentals, property management and post-sales services.

This article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.