Diversified group Eleven has invested ₹216 crore into its financial services business, including its NBFC arm, according to reports from The Economic Times. With this latest infusion, the group's total investment in the financial services sector has reached ₹470 crore over the last four years through a combination of primary and secondary investments.
The investment reflects Eleven's continued focus on building a scaled financial services franchise, as reported by The Economic Times. The group's NBFC arm SVCL has demonstrated significant growth, serving more than 19 lakh customers cumulatively and disbursing 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 the investment announcement, Eleven has launched 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, according to The Economic Times. As part of this strategy, the company has onboarded Monu Ratra as Co-founder and CEO of Eleven Tech.
