Popular Burger chain Good Flippin' Burgers Secures $4 Million in Funding to Fuel Expansion
In an exciting development for burger enthusiasts, popular burger chain Good Flippin’ Burgers announced that it has successfully raised $4 million in a recent funding round led by Tanglin Venture Partners. This comes just a year after the company secured $1 million in previous funding. The infusion of funds will be utilized to drive expansion efforts in both the dining and quick-service businesses, as well as strengthen the brand’s supply chain network. Ashika Capital served as the financial advisor for the funding round, according to company executives.
Co-founder of Good Flippin’ Burgers, Viren DSilva, expressed his enthusiasm, stating, “This investment is a significant milestone and will empower us to expand our operations, fortify our supply chain, and bring our burgers to a wider customer base.”
Since its establishment in 2019 by entrepreneurs Viren Dsilva, Sijo Mathew, and Sid Marchant, Good Flippin’ Burgers has quickly made a mark in the industry, with a current footprint of 23 outlets. The brand’s commitment to delivering delicious and quality burgers has garnered a loyal customer base.
According to a recent note by ICRA, a leading ratings company, India’s quick-service restaurant (QSR) sector is poised for substantial growth, with the addition of approximately 2,300 stores between FY23 and FY25. The estimated capital expenditure for this expansion is around Rs 5,800 crore. The report highlights that QSR chains are capitalizing on the demand in both metro cities and smaller markets, driven by competitive pricing and a growing preference for western-style fast food.
Despite a slowdown reported by QSR chains in the March quarter due to inflationary pressures, ICRA predicts that the majority of the upcoming expansion will be funded through internal accruals, cash reserves, as well as through pre-IPO and IPO routes. Industry analysts attribute the growth of the QSR sector to evolving consumption patterns, changing tastes, strategic marketing efforts, and an increased presence along highways, which contribute to the sector’s expansion.
Co-founder of Good Flippin’ Burgers, Viren DSilva, expressed his enthusiasm, stating, “This investment is a significant milestone and will empower us to expand our operations, fortify our supply chain, and bring our burgers to a wider customer base.”
Since its establishment in 2019 by entrepreneurs Viren Dsilva, Sijo Mathew, and Sid Marchant, Good Flippin’ Burgers has quickly made a mark in the industry, with a current footprint of 23 outlets. The brand’s commitment to delivering delicious and quality burgers has garnered a loyal customer base.
According to a recent note by ICRA, a leading ratings company, India’s quick-service restaurant (QSR) sector is poised for substantial growth, with the addition of approximately 2,300 stores between FY23 and FY25. The estimated capital expenditure for this expansion is around Rs 5,800 crore. The report highlights that QSR chains are capitalizing on the demand in both metro cities and smaller markets, driven by competitive pricing and a growing preference for western-style fast food.
Despite a slowdown reported by QSR chains in the March quarter due to inflationary pressures, ICRA predicts that the majority of the upcoming expansion will be funded through internal accruals, cash reserves, as well as through pre-IPO and IPO routes. Industry analysts attribute the growth of the QSR sector to evolving consumption patterns, changing tastes, strategic marketing efforts, and an increased presence along highways, which contribute to the sector’s expansion.
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