Panchkula, June 30: Eleven, a diversified group with interests across healthcare, financial services, consumer technology and energy, has invested ₹216 crore into its financial services business, taking the group’s total investment in the business to ₹470 crore over the last four years through a mix of primary and secondary investments.
The investment reflects Eleven’s continued focus on building a scaled financial services franchise. Eleven’s NBFC, SVCL, has served more than 19 lakh customers cumulatively and disbursed over ₹10,000 crore in credit since inception. The company has strategically transitioned from an MFI-led model to a diversified NBFC platform, with a sharper focus on MSME lending.
Alongside this investment, Eleven has announced the launch of Eleven Tech, a technology-led financial services platform that will provide integrated solutions to banks, NBFCs and other financial institutions across disbursement, collections, legal and recovery operations.
As part of this strategy, Eleven has onboarded Monu Ratra as Co-founder and CEO of Eleven Tech. Mr Ratra brings more than 27 years of experience across financial services, housing finance and consumer lending, and was most recently CEO of IIFL Home Finance.
Eleven Tech will operate as a technology-led, capital-light services platform that brings together digital infrastructure and execution capability to help financial institutions scale efficiently across the credit lifecycle, from disbursement and collections to legal and recovery operations. Together, SVCL and Eleven Tech demonstrate the group’s long-term conviction in financial services and its intent to build deep capabilities across lending, technology and operations.
Speaking on the development, Mr Sunil Sachdeva, Founder and Chairman, Eleven, said:“Financial services is a core pillar for Eleven. The ₹470 crore we have invested reflects our conviction in the sector and our capacity to back it for the long term. With Eleven Tech and Monu’s leadership, we are building a meaningful, tech-first platform that brings together technology and execution capabilities to help financial institutions scale more efficiently.”