The Belgian Waffle Co.
The Belgian Waffle Co. (Bloombay Enterprises Pvt. Ltd.) is India's largest waffle QSR brand, founded in 2015 and headquartered in Mumbai, operating 750+ stores across 240+ cities with a franchise-led model, signature Waff-wich sandwiches, sundaes, cakes, and take-home FMCG products for young mass-market consumers.
- Company typePrivate
- Founded2015
- HeadquartersMumbai, India
- Headcount251–500
- GTM typeB2C
- OfferingServices
What The Belgian Waffle Co. does
The Belgian Waffle Co., operated by Bloombay Enterprises Private Limited, is India's largest waffle-focused quick-service restaurant brand, founded in 2015 and headquartered in Mumbai. The company sells waffles, sundaes, beverages, waffle cakes, and take-home FMCG products (crisps, spreads, and premixes) through 750+ stores spread across 240+ Indian cities, supported by delivery partnerships with Swiggy and Zomato and a live event-catering service for corporate and social occasions. Its signature product, the Waff-wich, is positioned as an on-the-go, 100% eggless waffle sandwich aimed at young consumers for snacking, post-class hangouts, and indulgence occasions; the portfolio is rounded out with mini waffles, sundaes, shakes and coffees, layered waffle cakes, and add-on toppings.
The business operates primarily through a franchise model, complemented by company-operated stores, a digital loyalty program called Waffleverse (offering free waffles and sundaes plus 15% off on beverages), and unit-level promotions such as student discounts, birthday treats, and Happy Hours bundles. Pricing is unit-based, with Waff-wiches starting at approximately Rs 100. The revenue mix spans retail store sales, franchise/license fees, marketplace commissions via delivery platforms, event-catering services, and FMCG product sales. In December 2025, Vixar acquired a 45% controlling stake for Rs 770 crore at a Rs 1,700 crore valuation, joining existing investors Marathon Edge (12-15% retained), Vallabh Bhansali, and HDFC Asset Management; founders remain with the business. The underlying technology stack is non-proprietary, with no disclosed AI/ML or platform architecture beyond standard third-party delivery and loyalty integrations.
The Belgian Waffle Co. firmographics
Firmographics- Name
- The Belgian Waffle Co.
- Legal name
- Bloombay Enterprises Private Limited
- Website
- https://thebelgianwaffle.co
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- The Belgian Waffle Co. (Bloombay Enterprises Pvt. Ltd.) is India's largest waffle QSR brand, founded in 2015 and headquartered in Mumbai, operating 750+ stores across 240+ cities with a franchise-led model, signature Waff-wich sandwiches, sundaes, cakes, and take-home FMCG products for young mass-market consumers.
- Ownership category
- akta.pro rank
The Belgian Waffle Co. industry classification
Industry- Product category
- Quick Service Restaurant (Dessert & Waffle Chain)
- NAICS
- Limited-Service Restaurants (722513), Snack and Nonalcoholic Beverage Bars (722515), Caterers (722320), Bakeries and Tortilla Manufacturing (3118)
- SIC
- Retail-Eating & Drinking Places (5810), Bakery Products (2050)
- akta.pro primary industry
- Bubble Waffle, Crepe & Specialty Dessert Kiosks (THAFAGAK)
- akta.pro secondary industry
- Mobile / On-Site Catering (Food Trucks for Events, Pop-Ups) (THAFAIAJ)
Keywords
Where The Belgian Waffle Co. is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
The Belgian Waffle Co. business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Supply Chain, Marketing or Sales, Infrastructure
Revenue model
- Retail Store Sales: Direct sales from 750+ company-owned and franchise stores across India, selling waffles, beverages, sundaes, cakes, and FMCG products to individual consumers.
- Franchise Fees: Revenue generated from franchise partners who pay to open The Belgian Waffle Co. stores. The franchise page shows an application process requiring applicant details, education verification, prior franchise experience, and annual income criteria.
- Food Delivery Platforms: Sales through third-party delivery platforms Swiggy and Zomato, redirecting customers to nearest stores for online orders.
- Events and Catering: Live waffle station rental services for events including parties, weddings, concerts, corporate events, and college fests.
- FMCG Products: Sale of take-home products including waffle crisps, spreads, and premixes, allowing consumers to enjoy waffles beyond store visits.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Waff-wiches starting price |
| Unit Pricing | Pay-as-you-go | Waffletine's Valentine's campaign |
| Unit Pricing | Pay-as-you-go | Children's Day promotion |
| Unit Pricing | Pay-as-you-go | Student Discount |
| Unit Pricing | Pay-as-you-go | Birthday Treat |
| Unit Pricing | Pay-as-you-go | Happy Hours |
| Unit Pricing | Pay-as-you-go | Steal Deal |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels9 records
The Belgian Waffle Co. product offering
Product offeringCore offering
The Belgian Waffle Co. operates a quick-service restaurant (QSR) chain selling waffle-based products including the signature Waff-wich, mini waffles, sundaes, beverages, waffle cakes, and take-home FMCG items (crisps, spreads, premixes). The company distributes through 750+ company-owned and franchise stores across 240+ Indian cities, complemented by online ordering via Swiggy and Zomato and a live-station catering service for events.
Product overview
The Belgian Waffle Co is India’s largest waffle brand operating a quick-service restaurant (QSR) model with 750+ stores across 240+ cities. The product portfolio centers on the signature Waff-wich (on-the-go waffle sandwich) as the core product, complemented by Mini Waff-wich Combos, Sundaes, Beverages, and Waffle Cakes for in-store dining. The offering extends beyond physical stores through Take-home Favourites (waffle crisps, spreads, premixes) and FMCG products, while the Waffleverse loyalty platform drives customer retention with rewards across 720+ locations. Events & Catering services provide live waffle stations for celebrations and corporate events, and the Franchise Program enables geographic expansion through partner-operated outlets. All menu items are 100% eggless, with an almond flour option available for classic and chocolatey waffles.
Differentiator
Problem solved
Functional benefit
Brands
- Waffleverse: The company's loyalty rewards program offering free waffles, free sundaes, and 15% off on beverages for members.
Products and services
- Waff-wich The signature on-the-go waffle sandwich, crisp on the outside and loaded on the inside. Designed for consumers seeking a portable indulgent snack for post-class hangouts, midnight cravings, and casual occasions.
- Mini Waff-wiches Smaller portion waffle sandwiches available in boxes for sharing, offering the Waff-wich experience in a portable sharing format for groups.
- Mini Waff-wich Combos Bundled meal deals featuring mini waffle sandwiches paired with beverages or sides, offering enhanced value for consumers.
- Sundaes Melt-in-your-mouth ice cream treats combined with a waffle base, extending the waffle experience into frozen desserts.
- Beverages Selection of shakes, coffees, and coolers designed to complement waffle offerings at select stores across India.
- Waffle Cakes Decadent layered cakes featuring waffle components, designed for celebrations and special occasions.
- Take-home Favourites Retail FMCG products including waffle crisps, spreads, and premixes allowing customers to prepare and enjoy waffles at home, extending the brand beyond physical stores.
- Events & Catering Live waffle station rental service for events including parties, weddings, concerts, corporate events, and college fests across India.
Companies that use The Belgian Waffle Co.
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
The Belgian Waffle Co. technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
The Belgian Waffle Co. partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor and core.
- 2COMS Group (GTS)minorThe Belgian Waffle Co. participated as an employer at the Antarrashtriya Rozgar Mahotsav job fair organized by the Naveen Jindal Foundation in Kurukshetra, Haryana. The 2COMS Group managed 18 of 30 stalls offering career opportunities.
- SwiggycoreThe Belgian Waffle Co. partners with Swiggy for food delivery services, allowing customers to order waffles and other products through the Swiggy platform with orders redirected to the nearest store.
- ZomatocoreThe Belgian Waffle Co. partners with Zomato for food delivery services, allowing customers to order waffles and other products through the Zomato platform with orders redirected to the nearest store.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
The Belgian Waffle Co. competitors and assessment
Company assessmentDirect peers
- Bakingo: Bakingo is an Indian online-first bakery and dessert QSR chain selling cakes, desserts, and bakery items through online delivery and physical outlets. It competes with The Belgian Waffle Co. in the dessert-on-demand category and was co-listed as an employer at the same job fair, indicating similar scale and labor profile.
- Naturals Ice Cream: Naturals Ice Cream is one of India's largest homegrown ice cream chains with hundreds of outlets selling fruit-based and premium ice cream desserts. It directly competes in the Indian dessert-on-the-go segment with The Belgian Waffle Co.'s sundaes and waffle-based treats.
- Giani's: Giani's is an Indian ice cream and dessert chain with 100+ outlets across India serving shakes, sundaes, and traditional ice cream desserts. It competes with The Belgian Waffle Co. for share of Indian dessert QSR spending, particularly in North India.
- Monginis: Monginis is an established Indian bakery and cake QSR chain with thousands of retail outlets selling cakes, pastries, and bakery items. It is comparable to The Belgian Waffle Co. as a mass-market Indian dessert/bakery brand operating through franchise-distributed storefronts.
- Wow! Momo: Wow! Momo is one of India's largest QSR chains specializing in momos and other snacks/desserts with 600+ outlets. It is comparable as an Indian-focused, multi-format QSR brand targeting young consumers through mall and high-street presence, directly competing for the same indulgence-snacking occasions.
Broad incumbents
- Haldiram's: Haldiram's is one of India's largest packaged snacks, sweets, and QSR players with nationwide retail and restaurant presence. It is a broader incumbent competing across sweet and savory Indian snacks — overlapping with The Belgian Waffle Co. on sweet/dessert occasions but on a much wider portfolio.
- Bikanervala: Bikanervala is a heritage Indian sweets, namkeen, and restaurant chain with 100+ outlets in India and abroad. It is a broader incumbent that competes with The Belgian Waffle Co. for Indian sweet/dessert occasions while operating a much wider product and food-service portfolio.
- Kwality Wall's: Kwality Wall's (HUL) is a mass-market Indian ice cream and frozen dessert brand sold through retail and foodservice. It is a broader incumbent competing for Indian frozen dessert occasions that overlap with The Belgian Waffle Co.'s sundaes and ice cream-based offerings.
- Jubilant FoodWorks (Domino's India operator): Jubilant FoodWorks operates Domino's Pizza and other QSR brands in India with 2,000+ stores. It is a broader incumbent that increasingly competes with The Belgian Waffle Co. on delivery-led dessert snacking occasions and on aggregator visibility via Swiggy/Zomato.
Regional players
- Sagar Ratna: Sagar Ratna is a North-India-focused vegetarian restaurant chain serving South Indian and Indian sweets/desserts. It is a regional restaurant incumbent that overlaps with The Belgian Waffle Co. on sweet/dessert occasions but with a different core cuisine and regional concentration.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
The Belgian Waffle Co. social profiles
Digital presenceThe Belgian Waffle Co. compliance and trust
Trust signalCompliance1 record
The Belgian Waffle Co. financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Belgian Waffle Co. leadership team
Management profileNumber of profiles
The Belgian Waffle Co. funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Belgian Waffle Co. M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about The Belgian Waffle Co.
What does The Belgian Waffle Co. do?
The Belgian Waffle Co. operates a quick-service restaurant (QSR) chain selling waffle-based products including the signature Waff-wich, mini waffles, sundaes, beverages, waffle cakes, and take-home FMCG items (crisps, spreads, premixes). The company distributes through 750+ company-owned and franchise stores across 240+ Indian cities, complemented by online ordering via Swiggy and Zomato and a live-station catering service for events.
Is The Belgian Waffle Co. a public or private company?
The Belgian Waffle Co. is a private company. It is classified as private equity controlled and is currently operating.
When was The Belgian Waffle Co. founded?
The Belgian Waffle Co. was founded in 2015. It employs 251 to 500 people.
Where is The Belgian Waffle Co. based?
The Belgian Waffle Co. is headquartered in Mumbai, India, in the Asia region.
How does The Belgian Waffle Co. make money?
Five revenue lines are on record. Retail Store Sales are the primary driver. The others are franchise Fees, food Delivery Platforms, events and Catering and FMCG Products.
Who are The Belgian Waffle Co.'s main competitors?
Direct peers on record are Bakingo, Naturals Ice Cream, Giani's, Monginis and Wow! Momo. Broad incumbents are Haldiram's, Bikanervala, Kwality Wall's and Jubilant FoodWorks (Domino's India operator). Sagar Ratna is listed as a regional player.
Does The Belgian Waffle Co. have an API?
No public API is recorded for The Belgian Waffle Co..
What industry is The Belgian Waffle Co. in?
The Belgian Waffle Co.'s product category is Quick Service Restaurant (Dessert & Waffle Chain). Its primary akta.pro industry code is THAFAGAK, Bubble Waffle, Crepe & Specialty Dessert Kiosks, with a secondary code of THAFAIAJ, Mobile / On-Site Catering (Food Trucks for Events, Pop-Ups). Its NAICS code is 722513 and its SIC code is 5810.