Singapore halal dining market gets a boost as Deelish raises $1.1 mln to roll out more Fatburger locations
Halal restaurateur Deelish, the company behind popular chain Fatburger in Singapore, raised 1.5 million Singapore dollars (US$1.13 million) that it will use to roll out more restaurant locations and invest in its tech platform.
The company said in a statement on Thursday (June 3) the pre-Series A funding round was led by Calibre Capital and other local investors.
Deelish holds the Singapore master franchise rights for casual restaurant brand Fatburger & Buffalos, 800 Degrees, and Blimpie. It currently runs seven restaurant locations in Singapore, five of which are Fatburger.
Founder and CEO Moe Ibrahim said the company aims to expand the three brands to at least a dozen locations in total by early 2022.
Deelish will also continue to develop its proprietary tech platform that has already started to contribute revenue to the group by offering select solutions to other restaurant operators in Singapore.
"The average restaurant collects a vast amount of data on a daily basis, and does nothing with it," said Moe Ibrahim.
"Many restaurants serve hundreds of customers a day and make no effort to get to know any of them. This is a massive and obvious market gap that we aim to fill with our technology solutions."
Deelish’s expansion will further widen the halal dining market in Singapore after major foodservice operator Kimly last month announced its planned acquisition of Tenderfresh for 54 million Singapore dollars. Kimly plans to integrate the halal food business into its outlets across Singapore. The major foodservice company owns 83 food outlets and 137 food stalls.
Similar to Kimly’s aim, Deelish also said it will consider expansion opportunities regionally, especially Indonesia and Vietnam.
Singapore’s halal dining market was estimated by Muslim-friendly travel expert CrescentRating to be $745 million in 2019, with growth driven by millennials.
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