Real estate consultant Square Yards on Tuesday said it has raised ₹900 crore from investors to expand its business and refinance debt.

The company said in a statement that it has raised ₹900 crore, a combination of debt and equity.

The funding round was led by EAAA Alternatives and saw participation from global corporate credit manager Muzinich & Co.

Square Yards said the equity fund was raised at a higher valuation than its previous rounds.

The fund was raised at a valuation of more than US$1 billion, helping the company achieve unicorn status, sources said.

During the last financial year, Square Yards reported revenues of ₹2,086 crore, a growth of 48 per cent year-on-year. EBITDA grew 3.7 times to ₹176 crore.

Square Yards provides integrated services including property search, transactions, home loans, interior design and property management.

The fund will help the company strengthen its balance sheet while enabling it to further expand and strengthen its technology infrastructure. Square Yards said it is preparing for an initial public offering (IPO).

Tanuj Shori, Founder and CEO of Square Yards, said: “Raising this significant capital from such prestigious institutional partners is a deep validation of our flexible business model and our continued quest to revolutionize the real estate ecosystem.” The company said it has a profitable, scalable and fully integrated platform.

“As we prepare for our upcoming IPO, this capital raise will provide us with the strategic firepower to accelerate our market expansion, deepen our technology moat, and deliver exceptional value to our customers and stakeholders,” Shori said.