TechNexus - Series B Lending Platform.
Replaced 6 duct-taped tools with one platform. Freed 40% of engineering time. Went from 2 banks to 4 in one quarter. A Series B FinTech's infrastructure transformation story.
Company Profile
TechNexus
Series B digital lending platform processing ₹12 Cr in monthly disbursals. 10x loan application growth in 6 months post Series B. Engineering team of 25, of whom 10 were spending majority of time on payment infrastructure maintenance instead of core product development.
Industry & Scale
FinTech - Digital Lending. Monthly disbursals: ₹12 Cr. Loan applications: 15,000/month (growing 10x). Banking partners: 2 (needed 4). Engineering team: 25. Monthly transactions: 22,000+.
The Inflection Point
Post Series B, loan applications grew 10x in 6 months. The payment infrastructure - duct-taped from 6 different vendors over 2 years - started breaking. Payment failures hit 4.2% in the busiest month. Each failure meant a borrower waiting 2-3 extra days for their loan. The board demanded infrastructure that could scale to ₹50 Cr monthly disbursals within 12 months.
The Before - 6 Tools Duct-Taped Together
Razorpay for Collections
EMI collections via UPI and net banking. Worked well for payment acceptance but had zero reconciliation back to individual loan accounts. The finance team manually matched 3,000+ EMI payments monthly against the loan management system - a 2-day exercise every month.
Cashfree for Payouts
Loan disbursements via IMPS. Separate dashboard, separate credentials, separate reconciliation. When a disbursement failed (wrong IFSC, frozen account), someone had to manually log into Cashfree, identify the failure, correct it, and retry - average resolution time: 4 hours per failed disbursement.
Third-Party KYC Vendor
Separate KYC API with its own failure modes, its own rate limits, its own support team (response time: 6-8 hours), and its own billing. When the vendor had downtime, the entire loan onboarding pipeline stopped. It happened 3 times in one quarter.
In-House Invoice System
A Node.js invoicing service built by an engineer who left the company 8 months ago. No documentation. No tests. The codebase used deprecated libraries. Nobody dared touch it because the last person who tried broke loan disbursement notifications for 200 borrowers.
Tally for Accounting
Tally Prime on a desktop in the CFO's office. Transaction data exported monthly via CSV and manually imported. Books were always 30-45 days behind reality. Quarter-end closing took 2 weeks because the data had to be reconciled across 5 other systems first.
Custom Reconciliation Scripts
Python scripts running on cron jobs, attempting to match Razorpay collections against Cashfree disbursals against the loan management system. The scripts broke every time a banking partner changed their settlement file format - which happened approximately once per quarter. Each break took 2-3 engineering days to fix.
The SpacePe Migration - 14 Days
Week 1: Infrastructure Cutover
Days 1-2: Connected Yes Bank and IDFC First APIs. Configured disbursement workflows to mirror existing Cashfree logic. Days 3-4: Migrated vendor and borrower database (8,400 records) from Cashfree + KYC vendor into SpacePe. PAN and bank account verification via SpacePe's integrated KYC. Days 5-7: Tested 500+ disbursals and 200+ collections in SpacePe sandbox against real bank response patterns. Zero discrepancies. CTO Priya Deshmukh approved production cutover.
2-Day Bank Integrations (Was 2-3 Months)
Priya Deshmukh, CTO: 'Adding a new bank used to be a 2-3 month engineering project. Vendor evaluation, API integration, error handling, testing, certification. With SpacePe, we added RBL Bank in 2 days - literally configured the API keys, mapped the account, ran sandbox tests, and went live. We added AU Small Finance Bank the following week. Our bank partner count went from 2 to 4 in a single sprint.'
Sandbox That Actually Works
The SpacePe sandbox replicated real bank behavior - timeouts, IFSC validation failures, account freezes, weekend settlement delays, and insufficient balance responses. Engineers could test 200+ edge cases without touching production. Previously, testing meant making real transactions on a Friday and praying nothing broke over the weekend. The sandbox alone justified the migration according to the engineering team's internal survey.
Results - Measured at 90 Days
40% Engineering Time Reclaimed
10 of 25 engineers previously maintaining payment infrastructure now building core lending features - risk scoring improvements, borrower self-service portal, and partner API.
6 Tools → 1 Platform
Razorpay + Cashfree + KYC vendor + custom invoicing + Tally integration scripts + reconciliation cron jobs = one SpacePe dashboard.
2-Day Bank Integration
New banking partners onboarded in days, not months. Went from 2 bank partners to 4 in one quarter. On track for 6 by year-end.
3x Faster Loan Disbursal
Loan-to-disbursal time: from 3 days (manual NEFT) to same-day (instant IMPS). Borrower satisfaction scores up 34% in NPS survey.
4.2% → 0.3% Payment Failure Rate
Auto-retry via alternate bank reduced disbursement failures by 93%. Each failure previously cost 4 hours of engineering time to resolve manually.
Real-Time Portfolio View
CFO sees disbursements, collections, EMI status, NPA flags, and cash position across all bank accounts in one dashboard - previously required merging 5 CSV exports.
SpacePe Modules Deployed
Bank API Layer (80+ Tools)
Multi-bank connectivity: Yes Bank, IDFC First, RBL, AU SFB. Instant IMPS disbursals with auto-retry failover.
Invoice Engine
Automated loan documentation - sanction letters, disbursement confirmations, EMI schedules, and closure certificates.
KYC / KYB Integration
DigiLocker + PAN + bank account verification. Replaced standalone KYC vendor entirely.
Auto Reconciliation
Zero-manual matching of collections to loan accounts. 97.8% auto-match rate. Only exceptions surfaced for review.
Analytics & Dashboards
Real-time loan portfolio dashboards. Disbursement velocity, collection rates, NPA early warning, and bank-wise performance.
Notifications & Alerts
Borrower communication: disbursement confirmations, EMI reminders, overdue alerts via SMS, email, and WhatsApp.