Global investment manager ADM Capital has invested $25 million in India’s largest integrated real estate platform Square Yards as growth capital. This is the third round of fundraising by the technology-led real estate platform.
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.
Prior to this, the tech-led real estate platform had raised $20 million in equity capital from a clutch of investors including Times group, Genkai Capital, founders of Southeast Asian online realtor PropertyGuru – Steve Melhuish and Jani Rautiainen and Koh Boon Hwee, ex-Chairman Singtel and DBS.
Square Yards is planning to use the capital to continue to expand and invest in various verticals across the value chain.
“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,” said Christopher Botsford, Co-founding Partner & Joint Chief Investment Officer – ADM Capital.
The company 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 virtual reality space and has 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 return on investment (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,” said Tanuj Shori, Founder and CEO – Square Yards.
With a strong institutional partner like ADM Capital, Shori believes the company can now aggressively push towards brand and personnel investments to achieve a much faster trajectory.
Recently, Square Yards onboarded over 5,000 co-branded stores across top 8 cities in India through its Preferred Partner program aimed at forming alliances with independent real estate agents and smaller agencies.
Hong Kong-based ADM Capital has over $2.4 billion assets under management across Asia Pacific and Europe.
Globally the proptech industry has been moving to integrated plays. Leading players like Zillow, Beike and Compass are 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 has been operating 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.
