Singapore, June 30, 2025 – SC Ventures by Standard Chartered, which builds and invests in breakthrough ventures in and beyond banking, has completed the sale of its incubated venture, Solv India, to Jumbotail, one of India’s leading B2B marketplaces, post obtaining regulatory approval from Competition Commission of India. The combined business is now one of the largest B2B ecommerce platforms in India.
“This partnership reflects SC Ventures commitment of advancing financial inclusion and empowering micro-small and medium enterprises (MSMEs) — the economic backbone of the markets we serve,” said Alex Manson, CEO of SC Ventures. “MSME entrepreneurs will be central to shaping a resilient, inclusive and efficient retail ecosystem in India.”
Already serving more than 500,000 small retailers across 400 cities in India, the combination of Jumbotail and Solv India will become a strong, horizontal B2B ecommerce platform that supports the diverse commerce and fintech needs of India’s small retailers (kiranas), MSMEs and brands across food and grocery, apparel and fashion, home furnishing, toys and sports, footwear, and consumer electronics.
In 2019, SC Ventures incubated Solv India to provide a digital commerce and supply chain finance platform for MSMEs.
The combined entity will be led by S. Karthik Venkateswaran and Ashish Jhina, Co-Founders of Jumbotail. Gautam Jain will join the board of Jumbotail, representing SC Ventures.
“With strong fundamentals, a clear path to profitability and a motivated mission driven team, Jumbotail and Solv India are well positioned to lead India’s B2B commerce transformation across categories of mass market consumption. Our mission isn’t just about commerce — it’s about building an industry defining company that supports small businesses, enables job growth, and help build an inclusive economic engine for India’s future,” said S. Karthik Venkateswaran, Co-founder and CEO of Jumbotail.
As a result of the transaction, Standard Chartered will report a gain of approximately $0.2 billion in its second quarter 2025 results.
For further information:
Chi-an Chang
PR & Communications Lead, SC Ventures
SC Ventures
SC Ventures builds and invests in breakthrough ventures in and beyond banking. SC Ventures by Standard Chartered provides a platform for organisations to collaborate and co-create fintech ecosystems to reimagine the future of finance.
For more information, please visit www.scventures.io and follow SC Ventures on LinkedIn.
