Indian B2B marketplace Solv secures $40 million for business expansion

Oluwajuwonlo Afolabi -

Solv, an India-based online marketplace for business-to-business (B2B) offerings has raised $40 million in its new funding round led by SBI Holdings, to support its business expansion.

  • The fund will be invested in launching new product categories, advancing its BNPL plans, and expanding to over 300 cities across India.
  • Solv is an online marketplace helping small and medium sizes businesses trade in varying categories including grocery, readymade clothes, FMCGs, electronics, and accessories among others.
  • The startup has partnered with more than 220,000 Micro, Small, and Medium Sizes Enterprises (MSMEs) since its launch, it claims.
  • SC Ventures participated in the round, bringing Solv's total raise to $80 million.