SC Ventures Sells Solv India to Jumbotail

SC Ventures, the innovative investment division of Standard Chartered, has officially agreed to transfer its incubated venture, Solv India, to the B2B marketplace known as Jumbotail. This significant acquisition positions Jumbotail and Solv India to create a multi-category B2B e-commerce platform dedicated to meeting the various commerce and fintech needs of India’s small retailers, commonly referred to as kiranas, along with micro, small, and medium enterprise (MSME) entrepreneurs. This integration aims to help these businesses effectively compete in a rapidly evolving commercial landscape. Furthermore, brands and manufacturers from various sectors stand to gain improved and scalable access to India’s middle-class consumers through these small retail outlets.

Enhancing Jumbotail’s Market Reach

The acquisition is set to strengthen Jumbotail’s position across the entire food and grocery value chain while incorporating Solv India’s unique capabilities in various segments, including apparel, home furnishings, footwear, and toys.

About Jumbotail and Solv India

Founded in 2015, Jumbotail operates as a B2B e-commerce marketplace focused on food and grocery items. The platform not only facilitates transactions but also provides essential solutions aimed at helping kirana entrepreneurs modernise and digitalise their operations. In 2019, SC Ventures undertook the incubation of Solv India, which was designed to offer a digital commerce and supply chain finance platform specifically catering to the needs of MSMEs.

Leadership of the Combined Entity

The new entity following the acquisition will be jointly led by S. Karthik Venkateswaran and Ashish Jhina, who are Co-Founders of Jumbotail. Additionally, Gautam Jain will join the board of Jumbotail, representing SC Ventures.

Jumbotail’s B2B Marketplace Solutions

Jumbotail operates as an online B2B marketplace for food and grocery, catering to small and medium-sized kirana stores across India through a comprehensive B2B platform. The company boasts an in-house, technology-driven warehousing and last-mile delivery supply chain network, ensuring prompt and dependable deliveries to kirana shops. Furthermore, it provides a fintech platform that offers payment solutions, credit options, and other financial services tailored for kirana store proprietors.