Xcelerate Acquires Equity Stake In India's Carisma Solutions

Xcelerate Pte Ltd has acquired a strategic equity stake in Carisma Solutions Private Limited, a company providing managed services and digital solutions in accounting, financial advisory, mortgages, and SMSF in Australia.

Yogesh Bhura and Arjun Ramaraju have joined Carisma's Board as Xcelerate's representatives, alongside AGS Chaitanya and Porcko Pari.

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Commenting on the partnership

Jonah Stephen, Founder & CEO, Carisma Solutions, said, "We are delighted to announce Carisma's partnership with Xcelerate. Xcelerate's focus on global risk and compliance, through its expertly curated portfolio of companies, combined with the founders and management teams established track records and steadfast commitment to professionalism and success, will propel Carisma to new heights. This partnership will enrich our service offerings and drive client success with cutting-edge, knowledge-driven tax and compliance solutions."

Kv Ramanand, CEO of Xcelerate India, said, “Carisma has emerged as a reliable business services partner with a sharp focus on knowledge-led value-added services. Under Stephen’s leadership, it built high quality teams with robust processes and strong client relationships. We intend to work closely with Stephen and the team at Carisma in rapidly scaling up into a Global Compliances Center with large scale data processing, analytics and assurance capabilities. We intend to expand further in the BFSI and ESG data assurance segments in the EU and APAC regions.” 

About Carisma Solutions

Carisma helps clients with financial, tax, and regulatory compliance, including preparation, calculation, filing, and record-keeping.
The company says it has over 500 employees working from offices in Chennai, Bangalore, Tirunelveli, Sydney, and Melbourne.

About Xcelerate

The Singapore-based ESGRC company focuses on Environmental, Social, Governance, Risk, and Compliance areas. Its group includes Aparajitha Corporate Services, India’s largest compliance company; Stirrup Communication Consultants, the leading firm for integrated and sustainability reporting company in India; and Gieom Business Solutions, which provides software for digitizing SOPs, policy management, operational resilience, and eKYC in the BFSI sector.

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In july 2024, Xcelerate raised  $52 million debt funding from Orion Capital Asia.

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