Real estate advisory firm Square Yards raises USD 6 M in pre series A funding

Square Yards Consulting Pvt. Ltd., a real estate advisory firm in India, has raised an amount of USD 6 million in pre Series A funding. Spread over the last few months, the funds have come from a clutch of investors in Singapore and Hong Kong, who hold senior level positions with leading asset management and private equity houses. Sources in the know of the deal say that the startup has been valued at USD 40-50 million.

Square Yards was established with an aim to advise NRIs across the globe about investing in the domestic real estate market. Tanuj Shori, an NRI who was also the Executive Director at global investment bank, Nomura International, and his wife Kanika Gupta, conceptualized the company to establish right channels for investment in India’s real estate, after they themselves faced multiple problems when buying property in India.

The founders found that the Indian market was unstructured and fragmented, the spirit of service was missing and information was opaque thus making property buying in India a multi-faceted challenge for an NRI sitting miles away. Tanuj added that their biggest challenges with Square Yards initially were getting human capital and gathering the necessary data points.

Square Yards claims to be one of the largest organized real estate advisory firms in the country having facilitated real estate transactions to the tune of USD 250 million Gross Market Value (GMV) for India, and USD 50 million GMV for global real estate in the first year of its operations. Within six months of its inception, it had bagged the prestigious ‘Real- Estate Marketing Company’ of the year by ‘Accommodation Times’ and ‘Startup of the Year’ by Silicon India.

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