Square Yards raises $25mn from Hong Kong based ADM Capital

Square Yards, India’s one of the largest integrated real estate platform, announced that it received US$25mn (~INR 185 Cr) in growth financing from ADM Capital, a global investment manager with US$2.4 billion assets under management across Asia Pacific and Europe.

BY Realty Plus
Published - Friday, 16 Jul, 2021

Square Yards raises $25mn from Hong Kong based ADM Capital

Square Yards, India’s one of the largest integrated real estate platform, announced that it received US$25mn (~INR 185 Cr) in growth financing from ADM Capital, a global investment manager with US$2.4 billion assets under management across Asia Pacific and Europe. Square Yards has been pioneering this integrated ecosystem model and is one of the few real estate platforms globally that offers the full stack digital real-estate journey from 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. The capital infusion serves as the first tranche of the company’s ongoing plan of larger growth capital raise of US$100mn+ in the near term. Square Yards will use the capital to continue to expand and invest in various verticals across the value chain. Square Yards has been building an integrated ecosystem of services organically as well as inorganically. It recently acquired platform capabilities in rentals/property management, data intelligence and VR space and has also launched its full-service platform offering home furnishing and home interior services. Tanuj Shori, Founder and CEO, Square Yards, said, “We have been fairly capital efficient since inception with a clear focus on delivering high ROI. 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 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.” 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 US$670mn across 18 private financings. In conducting all its investment activities, ADM Capital focuses on the promotion of strong corporate governance and environmental and social compliance. 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. We are also pleased with the Company’s willingness to enhance its environmental and social policies and given ADM Capital’s proven ability to mitigate ESG risks and improve borrower governance, are available to share our expertise.” Globally the proptech industry has seen players like Zillow, Beike and Compass 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.