Square Yards on July 16 announced that it has received $25mn (Rs 185 crore) in growth financing from ADM Capital, a global investment manager with $2.4 billion assets under management across Asia Pacific and Europe.
According to a press release, this capital infusion serves as the first tranche of the company’s ongoing plan of larger growth capital raise of $100mn+ in the near term. Square Yards, it said, will use the capital 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 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.”
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.”
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