Solve, a B2B digital marketplace for MSMEs, which is also a wholly owned subsidiary of Standard Chartered, has announced its latest round of funding led by SBI Holdings (Japan) along with SC Ventures, an incubator and early stage participation of 300 Has raised Rs. investors of solve
With the new funding, Solve’s total funding increases to $80 million, the company said in a release.
Yoshitaka Kitao, CEO, SBI Holdings, said, “We are confident that Solv will become a global technology powerhouse and play a defining role in turbo-charging the growth of underserved MSMEs. Our investment in Solv is to develop economies, particularly India. reinforcing our commitment to
“At Solve, we are passionate about improving the livelihoods of millions of underserved MSMEs in India and globally. In a year ravaged by COVID-19, Solve has been able to establish itself as a trusted partner for 220,000+ MSMEs,” said Amit Bansal, CEO, Solve, commenting on Solve’s evolution into the next phase .
Mr Bansal further said, this strategic partnership and investment will give significant tailwinds to the company and help it become a major player in the business over the next 12-18 months.