Debt financing
QSR chain Wow! Momo Foods raises Rs.85-Cr from Stride Ventures
Kolkata-based quick-service restaurant chain Wow! Momo Foods has raised INR 85 crore in debt from Stride Ventures.The new funds will be used to expand the firm’s presence across dine-in, delivery and FMCG verticals and for refinancing existing loans. The group is also planning to scale-up its FMCG vertical to INR100 crore and ramp up the newly launched HORECA (Hotel, Restaurant, and Catering) arm.Founded in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo operates brands like Wow! Momo, Wow! China, Wow! Chicken and Wow! Kulfi. It currently operates over 700 self-owned stores across 70+ cities.
Between Jun 2017 and Jan 2024, Wow Momo had attracted about USD 141 M from PE-VC investors.For FY24, Wow Momo had reported about INR 470 Cr in Operating Income and about INR 114 Cr in Net Loss.
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