Quick service restaurant chain Wow! Momo is set to raise ₹110 crore ($11.6 million) in debt funding from Anicut Capital, marking its first fundraise of 2026.
The company’s board has approved the issuance of 1,100 non-convertible debentures (NCDs) with a face value of ₹10 lakh each, aggregating ₹110 crore. The funding will be raised in three tranches, of which ₹60 crore has already been received, with the remaining expected within six months.
The proceeds will be used for refinancing existing debt, general corporate purposes, and growth capital requirements, as the company continues its expansion.
Founded in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo operates over 850 outlets across 90+ cities. Its portfolio includes brands such as Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi.
The company has been actively raising capital over the past year. In 2025, it raised around ₹300 crore across multiple rounds, including funding from Singularity AMC, the Haldiram promoter family, and Khazanah Nasional.
Wow! Momo was last valued at approximately ₹2,838 crore ($316 million) and has raised over $140 million to date, including a $42 million Series D round led by Khazanah Nasional in 2024.
On the financial front, the company reported ₹470 crore revenue in FY24, up 13% year-on-year, while losses remained around ₹114 crore. It claims FY25 revenue of around ₹640 crore and expects to reach ₹850 crore in FY26, with a target of ₹1,200 crore by 2027.
Beyond its core QSR business, the company has also expanded into the FMCG segment, which has crossed ₹100 crore in revenue, and continues to focus on store expansion and brand diversification.
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