Kolkata-based QSR giant Wow! Momo has raised ₹85 crore (~$9.9 million) in debt funding from Stride Ventures, marking a strategic move to scale its omnichannel presence and strengthen its position in the FMCG space.
Founded in 2008 by Binod Homagai, Sagar J Daryani, and Shah Miftaur Rahman, Wow! Momo has grown into a formidable player in India’s quick-service restaurant (QSR) landscape with over 630 outlets across 35+ cities.
Despite the macroeconomic challenges, the company has maintained steady financials. In FY24, Wow! Momo reported a 13.83% jump in operating revenue to ₹470 crore, up from ₹412.9 crore in FY23. Its net loss remained largely flat at ₹114.4 crore, reflecting disciplined cost control amidst expansion efforts.
With this new capital infusion, the startup aims to double down on:
Dine-in footprint expansion
FMCG vertical growth, including ready-to-eat and frozen momo categories
Omnichannel initiatives, enhancing digital and offline customer experiences.
The brand, which competes with the likes of Rebel Foods, Curefoods, and EatClub, has ambitious plans to enter 100 new cities in the next three years.
