Stride Ventures lends Rs 85 crore to Wow! Momo for national expansion

Backed by strong unit economics and omnichannel momentum, Wow! Momo plans to enter 100+ cities and scale its store network to over 1,500 in the next three years

Stride Ventures has invested ₹85 crore in debt financing for Wow Momo Foods, bolstering the quick-service restaurant (QSR) chain's national expansion plans. The company operates more than 700 stores across 70 cities and owns the Wow China, Wow Chicken, and Wow Kulfi brands. Wow! Momo continues to scale its omnichannel strategy, supported by strong same-store sales growth.

 

Together with its other brands, Wow! Momo aims to enter more than 100 cities and build a footprint of over 1,500 stores in the next three years.

 

“Wow! Momo is a reflection of India’s evolving consumer story,” said Apoorva Sharma, Managing Partner, Stride Ventures. “Their passion for innovation and scale makes them a standout player in the food services sector.” 

 

Wow! Momo said it has delivered consistent unit economics that validate its robust business model. The group also plans to scale up its fast-moving consumer goods (FMCG) vertical to ₹100 crore and ramp up the newly launched HORECA (hotel, restaurant, and catering) arm this year. Furthermore, the company’s omnichannel strategy—spanning dine-in, delivery, and FMCG verticals—has enabled it to drive growth across multiple consumer touchpoints, thereby building a scalable and future-ready platform.

 

Equally important, the founding team comprising Sagar Daryani, Binod Homagai, Miftaur Rahman, and Murali Krishnan has demonstrated innovation and seamless execution at scale.

 

“Stride Ventures’ support marks a pivotal moment in our journey of redefining Indian QSR,” said Sagar Daryani, Co-founder and Chief Executive Officer of Wow! Momo. “With their partnership, we aim to scale new heights, introduce new formats, and continue building brands.”

 

Stride Ventures said it remains committed to backing category leaders and changemakers across industries. This collaboration highlights its focus on empowering companies that are reshaping India’s economic and consumer landscape.

 

With a portfolio of over 180 companies, including 17 unicorns across diverse sectors, Stride has committed over $1 billion in venture debt and private credit. It is empowering entrepreneurs globally, with offices across India, the UAE, Riyadh, the UK, and Singapore.