Rebel Foods, a cloud kitchen company, has raised $13 million in debt funding from Alteria and InnoVen Capital. Following its final equity round in 2021, EatSure’s parent business is now on its fifth debt financing round.
According to regulatory filings with the Registrar of Companies (RoC), Rebel Foods’ board has approved a special resolution to issue 11,000 Series G1 non-convertible debentures at an issue price of Rs 1,00,000 each, raising Rs 110 crore. Entrackr was the first to report on the development.
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Every debenture issued in the debt transaction will be eligible for interest at the rate of 13.90% annually. The monthly interest payment schedule is as follows.
Within two to three years, the firm intends to close Oven Story Pizza and open 250–300 new locations.
Rebel Foods has more than 450 kitchens spread over 70 locations, operating food brands like Behrouz Biryani, Mandarin Oak, Oven Story Pizza, Faasos, and Slay Coffee. Its portfolio includes more than 45 brands from Saudi Arabia, the UK, India, and the United Arab Emirates (UAE).
About Rebel Foods
Founded in 2011 by Jaydeep Barman, and Kallol Banerjee, Rebel Foods, formerly Faasos, is the world’s largest chain of online restaurants.
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