Good Flippin’ Burgers to Raise Rs 55 Crore at Rs 480 Crore Valuation

Good Flippin’ Burgers is set to raise Rs 55 crore in fresh funding after a gap of around two and a half years. Delhi-based S.R. Foundation will invest in the Mumbai-based burger chain at a valuation of around Rs 480 crore, representing a 20% premium.

According to regulatory filings, the company’s board has approved the issue of 58,668 Compulsorily Convertible Preference Shares at Rs 9,374.77 per share. The latest round will take the company’s valuation to around Rs 481 crore, up from Rs 400 crore in its extended Series A round. In April 2024, Good Flippin’ Burgers raised Rs 30 crore from existing investor Tanglin Venture Partners.

The company plans to use the new funds for business expansion, growth and general corporate requirements. Founded in Mumbai in 2019, Good Flippin’ Burgers currently operates 67 outlets across Mumbai, Delhi NCR, Pune, Bengaluru, Hyderabad and Chennai.

The company’s revenue has grown strongly in recent years. Between FY23 and FY25, revenue increased more than threefold from Rs 32.5 crore to Rs 111 crore. However, losses also increased during the period, rising from Rs 3.91 crore in FY23 to Rs 18.32 crore in FY25.

Meanwhile, Good Flippin’ Burgers competes with homegrown burger chains such as Burger Singh and Biggies Burger, along with regional players including Jumboking and The Burger Company, and cloud-kitchen brands such as Burgerama.