8 min read

Business Challenge

A fintech startup, based out of Bangalore approached Codewave to build an online lending platform for peer to peer money lending – that enables simple, fast personal loans from anyone available to lend to anyone who needs to borrow. Our in person meeting with the founders, led to a series of conversations, during when we elaborated the product features and the capabilities they needed developed in the first phase.

The first cut of the platform (beta) was expected to be launched in 4-5 months from inception. The platform had to be looked at from various perspectives for market readiness – user authentication through online verification services (video-kyc and online aadhaar verification), integrity of borrower information & credit profiling, optimization of algorithms to intelligently diversify investment risks for the lender & mobilize money to the right set of borrowers in need, accuracy of interest calculations, business model, transactions & payments and technology stack.


Codewave designed and developed the online peer to peer lending platform, enabling the launch to market in about 6 months from start. Users can lend or borrow money, while many verification processes were digitized, the time taken for loan approval was drastically reduced to about 60 minutes. The platform was built on NodeJS backend (Read How Uber Uses Node.js to Scale Their Business ) and was technically challenging in many ways – like handling of automatic investment algorithms for the lender, handling integrity of data & flow of money through intermediary accounts.

The project was planned for 6 months, the platform currently processes loans worth over INR 1 Crore, every month. The platform saw gradual traction, with lenders and borrowers signing up and claims zero defaults till date.


Beta ready app launched in 4 months, market ready in 6-7 months
Raised funding and gained significant media coverage,  as one of the early movers in India
Company achieved an NBFC status, with an active product gaining traction, within a year of operations

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