YPX Cayman Holdings Co., a Shanghai, China-based quick service restaurant company, closed a $25m Series D financing.
The round was led by MAM PE Asia Fund I (Labuan) LLP, a fund managed by Maybank Private Equity Sdn Bhd, with participation from existing investors LionRock Capital, Ignition Capital, as well as individual investors Mr. Koh Boon Hwee, former DBS Bank and Singapore Airlines Chairman, and Mr. Peter Tan, former President of McDonalds Greater China and ex-CEO of Burger King for Asia Pacific.
The company intends to use the funds to grow YPX directly-owned stores, to expand its franchising system and execute R&D programs.
Founded in 2010 by Chris Tay, CEO, YPX Cayman focuses on the management of casual F&B chains in China. CLOUD 9, its first brand, mainly focuses on the Taiwanese casual F&B and snacks segment. The brand now has more than 40 stores across China including Shanghai, Beijing, Tianjin, Hangzhou, Nanjing, Changzhou, and Hefei. Over the next year, the company plans to add two more brands.