Kaar Technologies, a Pure-Play SAP digital transformation consulting and services partner based out of Chennai, has raised INR 30 crores ($4.036 million USD) in acquisition financing facility from Mumbai-based alternative credit platform, BlackSoil Capital to fuel its inorganic international expansion plans.
Kaar Tech, 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.
A pioneer in Pure-Play SAP consulting with more than 5,000 man-years of SAP expertise gained through 2,000+ projects, Kaar Tech has established itself as a premium service-provider at value rates, serving enterprises across multiple verticals – Service, Manufacturing, Oil & Gas, Public Sector, Wholesale Distribution, Retail, and Conglomerates. With an employee strength of more than 950, Kaar Tech has offered services to 350+ clients. Kaar Tech will use the funds raised for inorganic expansion in the United States of America, thereby strengthening their 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 & CEO of Kaar Tech.
“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 a 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 ”, stated Ankur Bansal, co-founder of Blacksoil.
Source: Business World