18 April 2024 – The full-stack prop-tech platform is in discussions to raise additional capital at a value of more than $1 billion with a few private equity companies. Debt and equity will be combined in the pre-IPO round. In FY26, Square Yards hopes to go public. The firm reached EBITDA breakeven throughout the year and concluded FY24 with a topline of INR 1,000 Cr, according to sources.
Sources told Inc42 that Square Yards, a prop-tech business located in Delhi NCR, is in negotiations with investors to raise around $100 million in loans and equity. However, they noted that the financing amount may reach $120 million.
According to the sources, the full-stack prop-tech platform is planning to go public in the next fiscal year (FY26). Therefore, this will be its pre-IPO financing. According to the sources, Square Yards has started talks with a few private equity (PE) companies about the next investment round at a unicorn value.
Conclusion
According to one of the individuals, “the pre-IPO round will help the startup associate with the right names and help it determine its valuation.”
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