Fabindia MD invests Rs 4 crore in Wow! Momo

William Bissell, managing director of ethnic products brand Fabindia, has invested an undisclosed sum in Wow! Momo and will join the Kolkata-headquartered quick-service restaurant chain’s advisory board.

While the terms of the transaction were not disclosed, Bissell, who has emerged as an active angel investor in recent years, has pumped in Rs 3-4 crore in Wow! Momo, according to a source briefed on the development. The investment values the restaurant chain at about Rs 300 crore, a substantial uptick from its June 2017 funding round in which the decade-old company was valued at Rs 230 crore.

“William will play a significant role in advising us on our growth strategy, given our plans to expand our footprints. His expertise and track record in building and then scaling up Fabindia has been phenomenal, and his understanding of the Indian consumer mindset is second to none,” Sagar Daryani, chief executive of Wow! Momo told ET.

Daryani declined to specify the exact amount invested by Bissell in the company. Bissell, an Indo-American, was also earlier reported to have invested in digital publishing startup Juggernaut.

Source:-https://retail.economictimes.indiatimes.com/news/food-entertainment/food-services/fabindia-md-invests-rs-4-crore-in-wow-momo/64566475

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