Wow! Momo Secures ₹85 Cr Debt Investment from Stride Ventures
In a significant development in the Indian fast-food industry, Wow! Momo, a popular quick-service restaurant (QSR) chain, has secured a debt investment of ₹85 crore from Stride Ventures, a leading venture debt firm. This strategic investment will enable Wow! Momo to refinance its existing liabilities and fuel its expansion plans across its various segments, including QSR, FMCG, and HORECA (Hotel, Restaurant, and Café).
Wow! Momo, which has been rapidly expanding its footprint across India, has already achieved significant milestones. The company has over 700 outlets across the country, with a revenue of ₹470 crore in FY24. Looking ahead, Wow! Momo is projecting a revenue of ₹650 crore in FY25 and aims to reach 1,500 stores by 2027. The company is also laying the groundwork for a potential IPO in the same year.
The debt investment from Stride Ventures will be used to refinance Wow! Momo’s existing liabilities, which will help the company to optimize its capital structure and reduce its debt burden. The investment will also support Wow! Momo’s expansion plans, enabling the company to open new outlets and strengthen its presence in the Indian market.
“We are thrilled to partner with Stride Ventures, a reputed venture debt firm, to drive our growth ambitions,” said Vivek Srivastava, Co-Founder and CEO of Wow! Momo. “This investment will enable us to refinance our existing liabilities, fuel our expansion plans, and strengthen our position in the Indian market. We are confident that our focus on quality, customer experience, and innovation will continue to drive growth and profitability for the company.”
Wow! Momo’s success story is a testament to the company’s commitment to quality and customer satisfaction. The company has built a strong brand reputation by offering a unique and delicious range of momos (Tibetan dumplings) and other food items. Wow! Momo’s menu features a variety of options, including vegetarian and non-vegetarian momos, as well as other popular Indian and international dishes.
The company’s expansion plans are focused on increasing its presence in key markets across India, including major cities like Delhi, Mumbai, Bangalore, and Hyderabad. Wow! Momo is also exploring opportunities to expand its presence in emerging markets, including smaller cities and towns.
Stride Ventures, the venture debt firm that has invested in Wow! Momo, has a strong track record of supporting Indian startups and small and medium-sized enterprises (SMEs) in their growth journeys. The firm has invested in over 100 companies across various sectors, including technology, consumer goods, and food and beverage.
“We are excited to partner with Wow! Momo, a rapidly growing and innovative company in the food and beverage industry,” said Rohit Jain, Partner at Stride Ventures. “We believe that Wow! Momo has a strong potential for growth and profitability, and we are confident that our investment will support the company’s expansion plans and help it achieve its ambitious goals.”
In conclusion, Wow! Momo’s debt investment from Stride Ventures is a significant milestone in the company’s growth journey. The investment will enable Wow! Momo to refinance its existing liabilities, fuel its expansion plans, and strengthen its position in the Indian market. With its focus on quality, customer experience, and innovation, Wow! Momo is well-poised to continue its rapid growth and profitability in the years to come.
Source:
https://ascendants.in/business-stories/wow-momo-raises-85cr-debt-stride/
