Square Yards picks up $12m to expand real estate presence

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fintech insurtech wealthtech regtech ai cybertech esg news

Indian online-to-offline real estate transaction firm Square Yards has taken on $12m in a new round of funding from the private equity are of Reliance Group.

The company was founded in 2013 and says it’s the largest distributor for primary residential real estate in India, as well as a leader in the non-residential market.

It claims to have facilitated more than $800m in worldwide property investments.

Square Yard previously raised $11m in May 2015 from individual investors.

It will use the new capital to strengthen its distribution network across Indian global markets, with ground operations in 25-plus countries.

It also aims to become India’s largest mortgage advisory and developer market.

While many players in the real estate market are moving more and more of their operations online only Square Yard still invests in field sales teams.

Reliance Group is the holding company for several firms operating across real estate, insurance and other sectors.

Square Yards’ co-founder and COO said the collaboration between the two will allow the company, “to draw on Reliance’s extensive experience, particularly in scaling up the business to a higher growth trajectory and creating significant shareholder value in the process.

“Besides capital, we will also get access to best practices in running large consumer businesses at scale, with the participation of Reliance.”

Copyright © 2016 FINTECH GLOBAL

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