Quick-service restaurant (QSR) chain Wow! Momo is set to raise Rs 110 crore (around $11.6 million) in debt funding from Anicut Capital, marking its first capital raise of 2026, according to regulatory filings.
Key Highlights
- Wow! Momo to raise Rs 110 crore debt from Anicut Capital, first 2026 funding round.
- Funds to support refinancing, expansion, and growth as revenue targets Rs 1,200 crore by 2027.
This comes shortly after the company secured an additional Rs 75 crore infusion from Singularity AMC in December 2025, indicating continued investor interest in the fast-growing food brand.
The company’s board has approved the issuance of 1,100 non-convertible debentures (NCDs) with a face value of Rs 10 lakh each, aggregating to Rs 110 crore. The funding will be raised in three tranches, with Rs 60 crore already received, while the remaining amount is expected to be completed within six months.
According to filings, the proceeds will be used for refinancing existing borrowings, meeting general corporate expenses, and supporting growth and expansion plans.
Wow! Momo has been actively raising capital to fuel its expansion. In 2025, it secured around Rs 300 crore across multiple rounds through a mix of debt and equity, including backing from the Haldiram promoter family and Khazanah Nasional.
Overall, the company has raised more than $140 million to date, including a $42 million Series D round led by Khazanah Nasional in January 2024.
Founded in 2008 by Sagar Daryani and Binod Homagai, the Kolkata-based brand has grown rapidly, now operating over 850 outlets across 90+ cities. Its portfolio includes brands such as Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi. The company was last valued at approximately Rs 2,838 crore ($316 million) on a post-money basis.
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Financial performance and growth outlook
Wow! Momo reported a 13% increase in revenue to Rs 470 crore in FY24, up from Rs 413 crore in FY23, while losses remained steady at around Rs 114 crore.
Although FY25 results are yet to be officially filed, the company claims revenue surged over 30% to about Rs 640 crore. It is targeting Rs 850 crore in FY26 and has set an ambitious goal of reaching Rs 1,200 crore in revenue by 2027.
