Bangalore, March 26, 2025 – SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, has agreed to the acquisition of its incubated venture, Solv India, by Jumbotail, one of India’s leading B2B marketplaces. The deal is subject to regulatory approvals.
Jumbotail and Solv India combined will become a strong, multi-category B2B ecommerce platform that supports the diverse commerce and fintech needs of India’s small retailers (kiranas), as well as micro, small and medium enterprise (MSME) entrepreneurs, helping them compete effectively in the modern age. Brands and manufacturers across categories benefit from efficient and scalable access to India’s middle-class consumers via these small retailers.
“We believe that millions of India’s kiranas and MSME entrepreneurs should and will play a pivotal role in creating a more efficient, resilient and inclusive economy. Jumbotail’s strength across the entire food and grocery value chain, and Solv India’s differentiated capabilities in apparel, home furnishing, footwear and toys is a unique combination with immense potential,” said Ashish Jhina, Co-Founder and COO of Jumbotail.
Established in 2015, Jumbotail operates one of India’s leading ecommerce B2B marketplaces for food and grocery. It also provides solutions for kirana entrepreneurs to modernize and digitize their stores. In 2019, SC Ventures incubated Solv India to provide a digital commerce and supply chain finance platform for MSMEs.
“We incubated Solv India under our SMEs & World Trade theme and scaled it to become one of the top players in India’s B2B ecommerce sector,” said Gautam Jain, Chairman of Board, Solv India and Operating Member, SC Ventures. “The acquisition of Solv India by Jumbotail will create a significant horizontal multi-category B2B ecommerce platform in India with the potential to transform the lives of hundreds of millions of Indians. This is a great example of why we, at SC Ventures, believe in the transformational power of business model innovation driving financial inclusion and lifting participation of this underserved sector.”
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.
o3 Capital acted as the exclusive financial advisor and Trilegal acted as transaction counsel, for SC Ventures, in this transaction.
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For further information:
Jumbotail PR Contact:
Hannah Javvaji
+91- 9740388061
hannah.javvaji@adfactorspr.com
Solv PR Contact
Concept PR Contact:
Niti Kalyangal
+91- 7276136486
SC Ventures
SC Ventures is a business unit that provides a platform and catalyst for Standard Chartered to promote innovation, invest in disruptive financial technology and explore alternative business models.
For more information, please visit www.scventures.io and follow SC Ventures on LinkedIn.
Standard Chartered
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Jumbotail
Jumbotail is India’s leading online B2B marketplace for food and grocery, serving small and medium kirana stores across India via its full stack B2B marketplace platform, its inhouse tech driven warehousing and last-mile delivery supply chain network that provides speedy and reliable storefront deliveries to kirana stores and its fintech platform for payment, credit solutions and financial services to kirana store owners. Jumbotail also provides end to end solutions to small business owners to modernize and digitise their retail stores.
For more information, please visit www.jumbotail.com and follow Jumbotail on LinkedIn.
Sector Information
An estimated 12 million kirana stores in India control more than 95% of the country’s $600B food and grocery market. The vast majority of this B2B retail market is driven by un-organized B2B retail, where numerous small sellers such as wholesalers, stockists and sub-stockists operate, and supply branded as well as un-branded goods to retailers. Of all the channels serving retailers, eB2B specifically is expected to grow the fastest, at a CAGR of >80%, driven by its capability to connect all critical stakeholders in the whole retail supply chain.
