Total amount raised
$47 Million
Latest funding date
6/1/2022
Location
SOLV has successfully raised nearly $80 million over two funding rounds, with the latest being a Series A round led by SBI Holdings and SC Ventures. The platform is a B2B e-commerce marketplace designed to facilitate commerce for small and medium-sized enterprises (SMEs) by offering seamless access to finance and business services.
Keep reading to explore the intricacies of SOLV's fundraising journey and the investors backing this innovative platform.
What Is SOLV?
Founded in 2019, SOLV is a B2B e-commerce marketplace based in Bangalore, Karnataka, India. The platform is designed to support small and medium-sized enterprises (SMEs) by providing a trusted environment for commerce and seamless access to finance and business services.
With a workforce of 251-500 employees, SOLV offers a range of services including business loans, invoice-based financing, and logistics. The company has been acquired by Jumbotail and continues to facilitate commerce for SMEs through its AI and ML-enabled platform.
How Much Funding Has SOLV Raised?
- Series Unknown
- Amount Raised: $7,500,000
- Date: December 2020
- Lead Investors: SC Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the growth and expansion of SOLV's B2B e-commerce marketplace for MSMEs.
- Series A
- Amount Raised: $40,000,000
- Date: June 2022
- Lead Investors: SBI Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage the strategic partnership and investment from SBI Holdings to gain significant tailwinds and help SOLV become a dominant B2B player over the next 12-18 months.
Total Amount Raised: $47,500,000. Current Valuation: Not publicly disclosed.
Key Investors
- SBI Group
- Details: SBI Group is a Japan-based financial services company that led the Series A funding round for SOLV. The company is known for its extensive involvement in financial services and technology investments.
- Investment Focus Areas: Financial services, technology, developing economies, especially India.
- Notable Investments: Not publicly disclosed.
- SC Ventures
- Details: SC Ventures is an incubator and early-stage investor in SOLV. The venture group focuses on fostering innovation and investing in early-stage companies.
- Investment Focus Areas: Financial technology, early-stage companies, innovation.
- Notable Investments: Not publicly disclosed.
What's Next for SOLV?
As SOLV looks to the future, the opportunities for growth are immense. The platform's expansion into new geographies, leveraging its success in the Indian market, presents a significant opportunity. With a target of achieving a half-billion-dollar GMV run-rate by December 2022, the potential for growth in the B2B space, particularly among underserved MSMEs, is substantial.
Future fundraising opportunities are likely, given the strategic partnerships with major financial institutions and fintech companies. These partnerships not only provide financial backing but also open doors for further investments to support global expansion and enhance SOLV's service offerings.
However, challenges remain. Scaling operations while maintaining positive unit economics, navigating regulatory environments in new regions, and facing competition from other B2B marketplaces and fintech companies are hurdles SOLV must overcome. Despite these challenges, the company's strategic focus and robust partnerships position it well for continued growth and success.
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