Debt financing
QSR chain Wow! Momo to raise $20-M
Kolkata -based quick-service restaurant chain Wow! Momo is to raise USD 20 million in debt from InCred Credit Opportunities, RevX Capital Fund, and Anicut Capital by issuing 18,500 non-convertible debentures. This transaction marks the company’s second debt raise this year, following a USD 13 million (INR 110 crore) debt infusion from Anicut Capital in April.Founded in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo operates more than 850 outlets across over 90 cities. The company’s brand portfolio includes Wow! Momo, Wow! China, Wow! Chicken and Wow! Kulfi. The firm plans to use the new funds to refinance existing borrowings, meet general corporate requirements, and support igrowth.InCred Credit will lead the debt round with an investment of USD 15 million (INR 125 crore), followed by RevX Capital Fund with USD 4.8 million (INR 40 crore) and Anicut Capital with USD 2.4 million (INR 20 crore). Prior to this, the company had raised over USD 140 million in equity funding, including a USD 42 million Series D round led by Khazanah Nasional in January 2024.
Between Jun 2017 and Apr 2026, Wow! Momo had attracted about $189-M from Lighthouse, Tiger Global, Anicut Capital, IAN Fund, Tree Line Asia, OAKS, ValueQuest, Khazanah Nasional, Z3Partners, Stride Ventures, Singularity AMC, 360 ONE, and others.
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