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