Solv, a zero-inventory full-stack online B2B commerce marketplace for MSMEs, has appointed Amit Bansal as its CEO and Board Member.
In this new role, Bansal will drive the company’s strategic direction through its commerce, credit and convenience services leading the company to achieve its core purpose of creating livelihood opportunities for India’s 65 million MSMEs.
Prior to joining Solv, he was the founder CEO of EZMall. He was instrumental in building EZMall’s e-commerce infrastructure from the ground up, as well as forging partnerships with several key supply chain partners.
Commenting on the appointment, Jiten Arora, Venture Lead, Solv and Member, SC Ventures, said, “India is a core market in our strategy to develop disruptive and transformational solutions for the MSME sector globally, and with Bansal’s leadership, I am confident of Solv taking great strides towards empowering Indian MSMEs digitally and helping them simplify their growth journey.”
“We are building Solv as a powerful enabler for the growth of Indian MSMEs. We are constantly working to unlock their boundless energy and passion for growth by building a technology backed ecosystem I look forward to working with and further strengthening a talented team, as we continue to develop innovative and industry-leading solutions for the millions of small business owners in India, propelling them to growth and prosperity,” said Amit Bansal, CEO, Solv, in a statement.
Solv has worked closely with the MSME sector to address the challenges it faced due to the lockdown measures imposed to tackle the pandemic. These include the setting up of credit helplines, launching a pioneering buy-now-pay-later (BNPL) program in the B2B space, setting up a supply chain finance platform to support deep-tier anchor led dealer/distributor finance , and providing doorstep delivery of goods.
A recent round of fund infusion by Standard Chartered Bank (SCB) to the tune of Rs 55 crores, has given Solv the ability to plan a significant boost to its full-stack offering for MSMEs.
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