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Square Yards raises USD 10 million from multiple investors; to accelerate expansion into international geographies

Updated: Jan 12, 2017 12:36 IST      
Square Yards raises USD 10 million from multiple investors; to accelerate expansion into international geographies

New Delhi [India], Jan 12 (ANI): India's largest online to offline (O2O) real estate player Square Yards on Thursday announced raised of USD 10 million investment in the form of convertible notes from multiple individual investors primarily based outside India.

Combined with the recently announced USD 12 million equity funding from the private equity arm of Anil Ambani led Reliance Group, the new investment takes the total amount of funds raised by the company to approximately USD 33 million since its inception in 2013.

"We wanted to maintain a healthy mix in our balance sheet without diluting too much of equity at this stage of our growth. The new financing would help us accelerate our expansion into newer international geographies and at the same time strengthen our existing distribution network in 10+ countries," said Founder and CEO Square Yards, Tanuj Shori.

"For this latest investment round, we reached out to our own set of real estate clients in International locations through our NRI sales teams. The fact that the majority of these new funds have been invested by our existing clients is a testimony to the trust and confidence they have in us," said founder and COO Square Yards, Kanika Gupta Shori.

The Indian Real Estate tech sector is witnessing significant consolidation activity with some big ticket mergers and acquisitions announced recently.

Square Yards has acquired a leadership position in the transactions space and claims to be twice the size of its nearest competitor that got merged with a classified and listing player.

It currently boasts of net revenue run rate of USD 1.5 million to USD two million per month (annualized ~ USD 25 million) and transaction run rate of ~600-800/month.

The company sources exclusive structured mandates from top Indian and International developers and employs multimodal distribution strategy through its strong network of direct sales in India and NRI markets, channel partners and e-commerce.

It recently crossed USD one billion in Gross Transactional Value (GTV) in terms of total value of properties sold on its platform. It has also focused heavily on overall customer experience resulting in a very healthy 21 percent repeat customers those who have bought multiple properties through Square Yards.

Square Yards also provides specialized real estate allied service expertise through its group companies. Its financial arm, Square Capital brings home loan assistance and mortgage fulfillment capabilities.

The marketing arm, Bling Marketing offers 360-degree marketing solutions to real estate developers. It also plans to venture into comprehensive property management and home furnishing segment in the near future. (ANI)

Criminal prosecution by IT Dept. surged by cent pct during Modi regime

Updated: May 27, 2017 19:41 IST      By: Shailesh Yadav

New Delhi [India], May 27 (ANI): Criminal prosecution by the Income Tax Department has witnessed a sharp increase of more than 100 percent during the last three years of Prime Minister Narendra Modi-led Government.

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New Delhi [India], May 27 (ANI): Aiming to empower Nagpur's electric mobility drive, Ola and Mahindra on Friday announced their collaboration with the Government of India in a first-of-its-kind programme to build an electric mass mobility ecosystem in Nagpur, which will bring about a transformational change in the automotive and transportation landscape in the country.

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New Delhi [India], May 27 (ANI-NewsVoir): President of India Pranab Mukherjee received the first copies of the book 'Mann Ki Baat' - A social revolution on Radio, at Rashtrapati Bhavan, New Delhi, on May 26, 2017.

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New Delhi [India], May 27 (ANI-NewsVoir): Indian-American Businessman Nitin Khanna entered California with his Cannabis business, the fastest growing industry in America. As more states legalize recreational use, the demand for premium cannabis is expected to increase. With a population of 39.1 million, California is the largest market in America within this industry; it was also the first state to legalize the medical use of marijuana back in 1996.

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Epson launches express service centres in NCR

Updated: May 27, 2017 09:23 IST     

New Delhi [India], May 27 (ANI): Digital imaging and printing solutions provider Epson on Friday announced the inauguration of two express service centres in Noida and Gurugram.

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Pune (Maharashtra) [India],May 26 (ANI-Businesswire India): Bajaj Finserv, India's most diversified financial company, through its lending arm Bajaj Finance, is offering home loans at just 8.50% for a limited period. The special offer is valid till May 29, 2017.

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Jugnoo takes a big leap in restaurant aggregation

Updated: May 26, 2017 16:51 IST     

New Delhi [India], May 26 (ANI-Newsvoir): Jugnoo, India's leading hyper local startup, offering a diverse range of services like rides, ready to eat meals, restaurant food delivery, grocery and B2B Delivery, records phenomenal growth for its restaurant aggregator vertical, menus.

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GST Bill unanimously approved in Tripura

Updated: May 26, 2017 15:15 IST     

Agartala (Tripura) [India], May 26 (ANI): On the concluding day of the three-day session of the Tripura Assembly on Thursday, the Left-ruled state approved the Goods and Services Tax (GST) Bill unanimously by voice vote.

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Sensex surpasses 31,000 mark, shoots by 255.17 points

Updated: May 26, 2017 14:54 IST     

New Delhi [India], May 26 (ANI): Achieving yet another milestone in just a few hours, the Sensex on Friday saw a significant surge, reaching a fresh all time high of 31,005.20, recording a rise by 255.17 points, with Nifty inching closer to the 9,600-mark.

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New Delhi [India], May 26 (ANI): The most economically developed states are not adequately adding to skill sets, which may result in severe shortages of skilled manpower in the coming years, according to an ASSOCHAM-Thought Arbitrage Paper.

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FICCI to set up StudyinIndia pavilion at NAFSA 2017

Updated: May 26, 2017 13:20 IST     

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Atal Pension Yojana registers 53 lakh subscribers

Updated: May 26, 2017 12:36 IST     

New Delhi [India], May 26 (ANI): The subscriber base under the Atal Pension Yojana (APY) reached approximately 53 Lakhs. At present, 235 banks and the Postal Department are involved with the implementation of the scheme. Besides the branches of the banks and CBS-enabled offices of India Post, quite a few banks are sourcing subscribers through their internet banking portals in a paperless environment.

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New Delhi [India], May 26 (ANI): The Central Board of Direct Taxes (CBDT) on Friday issued a clarification on furnishing statements of financial transactions.

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New Delhi [India], May 26 (ANI-BusinessWire India): ITC Limited has won the prestigious Porter Prize 2017 award for 'Excellence in Corporate Governance and Integration' and for its exemplary contribution in 'Creating Shared Value'.

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nexGTv now available on Amazon's Fire TV Stick

Updated: May 26, 2017 08:10 IST     

New Delhi [India], May 26 (ANI): nexGTv, a subscription-led video entertainment app on Thursday made its big-screen debut with its launch on Fire TV Stick, a digital streaming device from Amazon, and is now available on Amazon India.

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New Delhi [India], May 25 (ANI-NewsVoir): Rakesh Kapur, Joint Managing Director, Indian Farmers Fertiliser Cooperative Limited (IFFCO), has been elected as the Chairman of the International Fertilizer Association (IFA) at the recent IFA's Annual Conference held from May 22nd - 24th in Marrakech, Morocco in which 1400 participants were present.

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New Delhi [India], May 25 (ANI): Credit rating agency ICRA expects Indian GDP and gross value added (GVA) at basic prices to expand by 7.1 percent and 6.9 percent, respectively, in year-on-year (YoY) terms in Q4 FY2017.

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