Funding Alert

Square Yards Raises $25M Debt From Hong Kong-Based ADM Capital

• ByStartupStory     |    July 16, 2021

Property Brokerage firm Square Yards has raised $25 million (Rs 185 crore) in growth financing from Hong-Kong based ADM Capital to expand its business. This capital infusion serves as the first tranche of the company’s ongoing plan of larger growth capital raise of over $100 million in the near term. Square Yards said it will use the capital to continue to expand and invest in various verticals across the value chain. 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 and property management, home interiors, etc.; we believe we are now at the cusp of an accelerated growth curve.”

Square Yards says that it 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. ADM Capital established in 1998, and is providing flexible credit solutions to Asia Pacific’s leading mid-sized corporations. The company first entered the Indian market in 2004 and has since disbursed in excess of $670 million across 18 private financings.

“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,” said Christopher Botsford, Co-founding Partner and Joint Chief Investment Officer, ADM Capital.

 

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