B2B marketplace for MSMEs Solv raised $40 million in Series A led by SBI Holdings where existing investor SC Ventures also participated.
Solv is an emarketplace for suppliers and buyers in India's MSMEs. It sells groceries and fast-moving consumer goods (FMCG), ready-made apparel, electronics and accessories, home furnishings, and footwear and accessories. Solv intends to use the new funds to launch additional high-margin product categories and expand to over 300 Indian cities. It also intends to use the new funds to accelerate the expansion of buy now, pay later (BNPL) loans. Solv also intends to expand its anchor-led retailer finance to 50,000 or more retailers.