Real estate aggregator platform Square Yards has raised $10 million from a clutch of high net worth individuals, including the family office of Kanpur-based Lohia Group, reports the Economic Times. Over 70% of the funding is debt based in the form of convertible notes, and investors will have to option to convert debt to equity, when the company raises its next round of funding. The company will use the funding for expanding its distribution network in India and internationally, and fund its growth for the next 12-15 months. Currently, the company claims to be profitable with a positive EBITDA margin. Square Yards had raised $12 million from the private equity arm of Reliance Group just 2 months ago. The startup had previously raised $11 million from a clutch of high net worth investors last year. Founded in 2013, it currently…
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