Investec advised Wow! Momo on its USD 50m Series D round led by Khazanah
About the deal
Investec acted as the Exclusive financial advisor to Wow! Momo Foods Pvt. Ltd, India’s leading domestic QSR chain, on its US$50m Series D Fundraise led by Khazanah
The round was led by Khazanah and saw participation from existing investor OAKS. Khazanah, sovereign wealth fund of Malaysia, invested $42M both in primary and secondary. This funding will enable Wow! Momo to grow as pan-India brand and strengthen their market presence.
About Wow! Momo
Wow! Momo Foods Pvt. Ltd. is India’s leading domestic QSR Chain, operating 3 brands- Wow! Momo, Wow! China and Wow! Chicken. Recipe for success has been its strong leadership team, Pan-India footprint, sharp unit economics. With presence in more than 35+ cities, Wow! Momo has more than 600 outlets in India. With focus to establish presence in Tier 2/3 cities and target to reach 100 cities in the coming years. Focus on providing four consumer driven factors – Convenience, Hygiene, Affordable and Taste. It offers integrated “Wow! Experience” through new store formats of ‘Wow! Combo’ and ‘Wow! Eats’.
What we did
Investec leveraged its deep Investor network to raise funds for Wow! Momo and appropriately positioned them in the process. With Investec’s deep understanding of deal making and the food services space, we were able to pre-empt & negotiate a favourable deal in the current funding environment.
Investec played a key role in executing the deal by balancing the interests of the secondary sellers, Founders and incoming investors, thus creating a foundation for long-term partnership.
“There is no greater joy for a founder than giving its initial investors (Indian Angel Network (IAN) and Lighthouse Funds) great partial exits. For us, the Bharat Story has just begun with a huge headway of growth. With Khazanah’s investment into the business and their long-term approach, we will strive to become the powerhouse of innovation and transformation in the food space while keeping a strong balance between sustainability, growth and backing breakthroughs”.
Sagar Daryani, CEO & Co-Founder, Wow! Momo Foods
“We are excited to be on the journey with Wow! Momo in their mission to build the largest QSR brand in India. We aim to encourage the growth of Wow! Momo through enhanced scalability, technological fortification, and focusing on building a strong back-end capability to support its growth.”
Dato’ Amirul Feisal Wan Zahir, Managing Director, Khazanah
“In our journey with investments in other F&B brands, we have realised that long-term thinking and dynamic leadership are essential. We feel that Wow! Momo has both. We feel that Wow! Momo will not only gain dominance in the domestic market but also be the first globalized QSR company from India. We are ready to scale with the brand.”
Vishal Ootam, Founder and CEO of OAKS Asset Management
