Jumbotail to acquire Solv from SC Ventures.

Jumbotail, an Indian B2B marketplace, agreed to acquire Solv, an Indian B2B e-commerce marketplace that facilitates trade among SMEs, from SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm. Financial terms were not disclosed. "We incubated Solv India under our SMEs & World Trade theme and scaled it to become one of the top players in India’s B2B ecommerce sector. The acquisition of Solv India by Jumbotail will create a significant horizontal multi-category B2B ecommerce platform in India with the potential to transform the lives of hundreds of millions of Indians. This is a great example of why we, at SC Ventures, believe in the transformational power of business model innovation driving financial inclusion and lifting participation of this underserved sector," Gautam Jain, SC Ventures Operating Member and Solv Chairman.