Calcutta: Homegrown quick-service restaurant chain Wow! Momo has brought in Fabindia managing director William Bissell as an investor as it looks to expand its presence in India.

Bissell, in his personal capacity, has picked up a minority stake (around 1 per cent) in Wow! Momo and joins the advisory board of the company.

The current investment values the Calcutta-based company at over Rs 300 crore.

Wow! Momo, which runs a profitable business, had been able to attract investors in the past, including Naukri.com founder Sanjeev Bhikchandani, Anicut Capital co-founder Ashvin Chadha and Saurabh Srivasatava, co-founder of Indian Angel Network.

Hero Enterprises chairman Sunil Kant Munjal, Infosys co-founder Kris Gopalakrishnan, Technopack chairman Arvind Singhal and Raman Roy, the immediate past chairman of Nasscom, are the other investors in the fast food chain, founded by Sagar Daryani, Binod Homagai and Miftaur Rahman in 2008.

"Unlike many start-ups that have burnt money, Wow! Momo has been able to deliver results and along with our product proposition, innovation and out-of-the-box thinking have attracted major investors," Sagar Daryani, co-founder and CEO of Wow! Momo, told The Telegraph.

Wow! Momo had raised its first round of equity funding of Rs 10 crore in 2015 from India Angel Network (IAN), led by Sanjeev Bikhchandani, Saurabh Shristava and Ashvin Chadha, at a valuation of Rs 100 crore. A total of 93 investors had participated in this round.

Wow! Momo doubled the angel investors' money in 18 months and provided a partial exit to IAN at an internal rate of return of over 50 per cent in series B round of funding last year in June at a Rs 230-crore valuation.

More outlets

In 2017-18, the company opened 65 stores to close the year with 168 stores nationally. The company's revenue grew to Rs 75 crore with an estimated EBITDA of around 9 per cent from Rs 49 crore a year ago. "Our plan is to open 100 outlets this year with a revenue of Rs 125-130 crore and 10 per cent EBITDA," said Daryani.