Wow! Momo Raises Rs 45 Crore In Debt Financing From Anicut Capital
Finshorts | 14th Oct, 2020 | 1 min read
NEW DELHI: Quick service restaurant chain Wow! Momo has raised Rs 45 crore in debt funding from Anicut Capital, the Kolkata-headquartered firm introduced on Monday. The debt financing will probably be primarily utilised in the direction of compensation of a Rs 35 crore mortgage the corporate had raised from Avendus Finance in 2018 Under the phrases of the brand new financing, Wow! Momo has the choice of elevating a further Rs 15 crore by April 2021. Wow! Momo, which owns and operates two manufacturers Wow! Momo and Wow! China had raised Rs 130 crore in fairness financing from New York-headquartered funding agency Tiger Global Management, in September final yr, and which had valued it at about Rs 860 crore on the time, and was the primary client product guess positioned by the storied funding agency in India. The latter, which had invested Rs 14 crore throughout rounds, and had earned Rs 50 crore, or a 70% return on its funding, on the time of Tiger Global’s capital infusion by a secondary transaction that noticed it partially exit its funding. Anicut capital, based and led by monetary companies veterans IAS Balamurugan and Ashvin Chadha, manages each debt funds and an angel fund, in line with VCCircle.
