India-based real estate transaction platform Square Yards has secured $20m in a funding round backed by media group Bennett Coleman & Co, the owner of Times of India, which reported the story.
The round also featured property investment management firm Genkai Capital Management, individual investors Steve Melhuish, Jani Rautiainen and Koh Boon Hwee, and undisclosed existing backers.
Founded in 2014, Square Yards runs an online-to-offline marketplace where real estate managers can list properties for sale. Customers can also use the service to access mortgage advice and their credit score.
Square Yards has now accrued $50m of equity funding and $25m in debt financing in total. It reportedly secured $10m in convertible debt from unnamed private investors in early 2017, after conglomerate Reliance invested $12m in 2016 through a private equity subsidiary.
The company had received $11m in funding from private investors in a 2015 round confirmed alongside Reliance’s investment, disputing media reports at the time that had placed the size of the round at $6m.