Deelish Brands raises S$1.5m in pre-Series A round
The company is also considering acquisitions, joint ventures and other partnerships as it expands regionally.
Singapore-based restaurant management company Deelish Brands announced it has raised over S$1.5 million in a pre-Series A round led by Calibre Capital.
The company, which serves as the master franchisee for restaurant brands Fatburger & Buffalos, 800 Degrees and Blimpie, currently has seven restaurant locations, five of which are Fatburger.
"We launched Deelish Brands with a very specific strategy in mind, that is, to take trendy Western fast casual restaurant brands, adapt them for the halal consumer, and launch them in Southeast Asia," Deelish Brands founder and CEO Moe Ibrahim said. "The value of the Muslim market worldwide is poised to increase from US$2.2 trillion in 2018 to US$3.8 trillion by 2024."
Deelish Brands said it will use the proceeds from the pre-Series A round to open more 800 Degrees and Blimpie stores, whilst continuing to expand the number of Fatburger locations, part of a goal to grow its footprint to at least a dozen locations by early 2022.
Beyond Singapore, the company named Indonesia and Vietnam as other markets for expansion. Deelish Brands will also consider acquisitions, joint ventures and other partnerships as it expands regionally.
Proceeds will also be used to continue its investment in their Deelish Brands Solution platform, which includes a loyalty platform and various types of customer relationship management systems.
Deelish Brands Solutions has already begun to contribute revenue to the group by offering select solutions to other restaurant operators in Singapore, it said, adding it intends to grow this business unit further in the coming year.