Mumbai, Dec 12 (IANS) SOLV, a B2B commerce marketplace, has announced its partnership with MonetaGo to digitise invoice financing. The partnership will help SOLV leverage MonetaGo’s growing anti-fraud network and mitigate potential risks of double invoice financing.
SOLV is a B2B commerce platform for small and medium enterprises (SMEs) in India. The platform enables small businesses grow by helping them connect, converse and do business with each other, while also supporting them with finance, logistics and other business services. It is a part of SC Ventures, the innovation, investment and ventures unit of Standard Chartered Bank.
The SME segment accounts for approximately 30 per cent of India’s GDP.
In order to enable seamless business transactions between millions of SME buyers and sellers across the country, SOLV provides invoice financing as a solution on its commerce platform.
Leveraging MonetaGo’s open API platform architecture for double invoice financing will enable higher transparency in all transactions between suppliers and buyers, a company statement said.
–IANS
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