18 April 2024 — Wow! Momo, a popular Kolkata-based QSR chain, raises INR 70 Cr from Z3Partners, extending its previous funding round.
This fundraising is part of a larger round involving Khazanah Nasional Berhad and OAKS Asset Management, totaling around INR 480 Cr. The fresh capital will be used to expand Wow! Momo’s QSR brand footprint, enhance distribution channels and invest in R&D for its FMCG segment.
Wow! Momo’s cofounders express commitment to sustainable growth, leveraging the confidence shown by investors to drive impactful changes. Z3Partners sees Wow! Momo’s potential in leveraging technology and market scalability aligns with its investment strategy.
Wow! Momo aims to scale its presence to over 1,500 stores in the next three years, building on its current network of 600 outlets across 38 cities. At the same time, financial statements for FY23 are pending, Wow! Momo’s FY22 showed significant revenue growth and reduced net losses, reflecting operational improvements.
Conclusion:
Wow! Momo’s latest funding round underlines its strategic vision for expansion and innovation within India’s QSR market, supported by strong investor confidence and a track record of growth and resilience.
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