Kaar Technologies Raises INR 30 Cr From BlackSoil Capital
Raised funds to be used strengthen customer base in the US and North America region
Chennai-based Kaar Technologies, a Pure-Play SAP digital transformation consulting and services partner, on Tuesday, announced that it raised INR 30 crore in acquisition financing facility from Mumbai-based alternative credit platform, BlackSoil Capital to fuel its inorganic international expansion plans.
The platform will use the funds raised for inorganic expansion in the United States of America, thereby strengthening its presence in North America.
“The Evolving business landscapes have led to the emergence of multiple growth opportunities for Kaar Tech to tap into. With the current landscape of SAP and projected adoption of SAP-driven Digital Transformation, we are quite confident of our growth in the North American subcontinent. With the acquisition financing facility from Blacksoil, we look forward to building on the relationship with them over the coming years,” stated Maran Nagarajan, founder, and chief executive officer, KaarTechnologies.
KaarTechnologies, founded in 2005, offers consultation, implementation, and support of SAP-based enterprise software solutions to enterprises across the world to improve their business processes. The company is one of the largest pure-play SAP players that partners with customers in the United States of America, United Kingdom, Bahrain, Kingdom of Saudi Arabia, Kuwait, Qatar, Oman, and UAE.
“One of the foremost by-products of COVID - 19 was the imminent need to digitize work and enable a hybrid work from home/office model. With COVID-19 acting as a catalyst to a paradigm shift in digitalization, Kaar Tech is in a prime position to capitalize on this demand. Along with a strong history of successful implementations and robust management, we look forward to supporting them in their journey. We are also excited about their planned acquisition in the US which will facilitate Kaar Tech to quickly increase its foothold in North America,'' added Ankur Bansal, co-founder, Blacksoil.
With an employee strength of more than 950, Kaar Tech has offered services to more than 350 clients.