India, Feb. 10 -- SBI Group-backed B2B digital marketplace Solv is in advanced negotiations for a merger with Bengaluru-based B2B company Jumbotail.

If the deal materialises, Jumbotail, which runs an online B2B marketplace for groceries and food, will seek to bolster its position in areas such as credit to micro and small enterprises (SMEs), Moneycontrol reported, citing sources.

The transaction is valued at around $50 Mn (around INR 425 Cr) and will likely be a mix of cash and equity. The deal will also see Solv CEO Amit Bansal's departure from the company.

However, S Karthik Venkhateswaran, cofounder of Jumbotail, denied reports of a potential merger with Solv.

Founded by Venkateswaran and Ashish Jhina in 2015, Jumbotail offers a su...