Kaar Technologies raises Rs 30 Cr from BlackSoil

kaar technologies funding

 Pure-play SAP digital transformation consulting and services partner, Kaar Technologies, announced that it has raised Rs 30 crore in acquisition financing facility from alternative credit platform BlackSoil Capital.

The Chennai-based company plans to use the freshly raised funds to power its inorganic international expansion in the United States of America, thereby strengthening its footprint in North America. 

Established in 2005, Kaar Tech provides consultation, implementation, and support of SAP-based enterprise software solutions to businesses across the world to enhance their business processes. The company claims that it is one of the largest pure-play SAP players that partners with customers in the US, the UK, Bahrain, Kingdom of Saudi Arabia, Kuwait, Qatar, Oman, and UAE.

With an employee strength of over 950, Kaar Tech has provided services to 350+ clients.

Maran Nagarajan, Founder and CEO of Kaar Tech said, “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 the 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.”

“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,” said Ankur Bansal, Co-founder of BlackSoil.

At present, BlackSoil manages an alternative credit platform comprising an RBI-registered NBFC and four SEBI-registered AIFs. Via various platforms, it has created a quality loan book by extending Rs 2,500 crore across 135+ deals and having an AUM of Rs 1,000 crore.

Kaar Technologies seems to have established a strong footprint in the market. I’m sure the company will continue to reach new heights of success in the time to come. My best wishes to the team of Kaar Technologies.

Shishir Gupta, Founder and CEO, StartupLanes

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