Wow! Momo will use the funding to fuel the expansion of its Quick Service Restaurant (QSR) brand and help to strengthen the distribution foothold and R&D for the FMCG arm.
Wow! Momo, a chain of quick-service restaurants (QSR), has raised a further capital of Rs 70 crore from Z3Partners in its latest funding round. This investment, which marks a continuation of the last round, is a primary investment by Z3Partners, an early-growth tech and digital investor. Previously, Wow! Momo got a successful funding of Rs 350 crores from Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia.
Wow! Momo, which runs three strong national brands Wow! Momo, Wow! China and Wow! Chicken has a footprint of over 600 outlets across 38 cities. The company has also forayed into the FMCG sector along with their QSR vertical, which has made their cumulative growth story into a blockbuster story.
The primary proceeds will fuel the growth and expansion of the Quick Service Restaurant (QSR) brand and help to strengthen the distribution foothold and research and development (R&D) for the FMCG arm. The entire round is a testimony to the brand’s vision, scalability, and rigor in terms of profitability.
Sagar Daryani, CEO of Wow! Momo, stated, “For us, this is just the beginning; we have been consistent, resilient, and sharp-focused on sustainable growth, and the belief this round of investors have shown in us fortifies our faith and further motivates us to be change makers.”
As per the company statement, the successful closure of this funding round highlights Wow! Momo's position as a key player in the Indian QSR landscape, reflecting investor confidence in its business model, growth prospects, and commitment to excellence.