Quick-service restaurant chain Good Flippin’ Burgers is set to raise ₹55 crore in fresh funding from Delhi-based S.R. Foundation, marking its first capital raise in around two and a half years. The transaction is expected to value the Mumbai-based company at roughly ₹481 crore, about 20% higher than its previous valuation.
According to regulatory filings, Good Flippin’ Burgers will issue 58,668 compulsorily convertible preference shares to S.R. Foundation at ₹9,374.77 apiece. The investment vehicle is linked to the DS Group promoter network and operates as a public charitable trust managed by corporate trustee Rajiv Kumar Gupta.
The company plans to use the fresh capital for growth, expansion and general corporate purposes. Good Flippin’ Burgers last raised ₹30 crore in April 2024 from existing investor Tanglin Venture Partners in an extended Series A round, when its valuation was estimated at around ₹400 crore.
Founded in 2019, Good Flippin’ Burgers has expanded to 67 outlets across Mumbai, Delhi NCR, Pune, Bengaluru, Hyderabad and Chennai. The chain competes with homegrown burger brands such as Burger Singh and Biggies Burger, along with regional and cloud-kitchen players in India’s increasingly crowded QSR market.
Financially, the company has grown quickly but profitability remains a challenge. Revenue increased more than 3.4X to ₹111 crore in FY25 from ₹32.5 crore in FY23, while losses widened to ₹18.32 crore from ₹3.91 crore over the same period. The new funding gives Good Flippin’ Burgers more room to expand its store network, but the bigger test will be whether that scale can translate into stronger unit economics and a more sustainable restaurant business.
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