Zero Profits, 2X Valuation Jump, Questions Galore

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“This is not true, we are not acquiring or merging with Solv,” Jumbotail cofounder and CEO Karthik Venkateswaran told Inc42 in late December 2024, when Inc42 reached out for a comment based on market speculations.  

Exactly three months later, Jumbotail announced it would be acquiring Standard Chartered-backed Solv. In a joint statement, the companies said, “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…



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Zero Profits, 2X Valuation Jump, Questions Galore


“This is not true, we are not acquiring or merging with Solv,” Jumbotail cofounder and CEO Karthik Venkateswaran told Inc42 in late December 2024, when Inc42 reached out for a comment based on market speculations.  

Exactly three months later, Jumbotail announced it would be acquiring Standard Chartered-backed Solv. In a joint statement, the companies said, “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…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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