Chennai-based Kaar Technologies, a pure-play SAP digital transformation consulting and services partner, today said it has raised Rs 30 crore ($4 million) in acquisition financing facility from alternative credit platform BlackSoil Capital.
According to a statement, The firm will utilize the raised capital to fuel its expansion plans in the United States of America, thereby strengthening its presence in North America.
Founded in 2005 by Maran Nagarajan, Kaar Technology, through its expertise, offers consultation, implementation, and support of SAP-based enterprise software solutions to enterprises across the world to improve their business processes.
The company claims to be 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.
“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,” said Maran Nagarajan, Founder & CEO of Kaar Technologies.
Speaking on the investment, Ankur Bansal, Co-founder of BlackSoil, said: “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,” he adds.