Gurgaon-based Square Yards, a real estate investment advisory player, has raised $10 million in the form of convertible notes from multiple individual investors.
According to Tanuj Shori, Founder and CEO, Square Yards, he wanted to maintain a healthy mix in their balance sheet without diluting too much of equity at this stage of growth. The notes are issued for a fixed term at a pre-determined coupon rate and with an option to convert into equity (at a discount) on reaching the next funding milestone.
Published by – YourStory.com
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