PE Fund Investments
Digital marketplace for MSMEs Solv raises $40-M led by Japan's SBI Holdings
Bengaluru-headquartered Solv, a B2B digital marketplace for MSMEs promoted by Standard Chartered, has raised INR 300 crore in its latest round of funding led by SBI Holdings (Japan), with participation from SC Ventures, an unit of StanChart. The funds will be deployed for expanding its ‘buy now pay later' (BNPL) offering, for launching more high-margin products and also for geographic expansion. Solv enables MSMEs to trade in categories such as grocery and fast-moving consumer goods (FMCG), readymade apparel, electronic and accessories, home furnishings and footwear and accessories. It claims to be present in over 200 cities, serving over 2.2 lakh MSMEs.
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