Case Study

How CredAvenue engaged top developers through open innovation

About CredAvenue

CredAvenue has revolutionized the corporate debt game with cutting edge solutions across the board – from borrowing to lending. The CredAvenue platform powers over 12,000 daily transactions and to date, has helped facilitate transactions worth over Rs. 7,000 Crore.

Through its 5-in-1 infrastructure spanning co-lending, loans, pools, bonds and supply chain finance, CredAvenue aims to reshape the traditional lending mechanism and offer new ways of digital credit facilitation. CredAvenue is also backed by marquee investors including Sequoia, Lightrock and Lightspeed, to name just a few.

So, why a hackathon?

Needless to say, CredAvenue has a penchant for innovation and impact, and were looking to showcase those qualities. At the same time, the company wanted to engage a large developer community by inviting them to build state-of-the-art solutions for today’s fast paced enterprise debt markets.


Enter: Ctrl Alt Debt

In collaboration with HackerEarth, CredAvenue created its first ever hackathon: Ctrl Alt Debt. The event was kicked off on the 15th of December, 2021, and over the course of the next 6 weeks, nearly 2,700 developers from the HackerEarth community ideated and built prototypes in line with 3 key themes.

At stake was a prize pool of INR 300,000!

CredAvenue Ctrl Alt Debt Themes

The Impact

Impact metrics of Ctrl Alt Debt

From the get-go, it was clear that the HackerEarth community warmed up to the event, and by the end of the 6 week sprint, real impact was created!

Winning solutions

A prize pool of INR 300,000 was at stake, with 1st place winning INR 150,000, 2nd place winning INR 100,000 and 3rd place winning INR 50,000. But beyond the cash prizes, the solutions created by the contestants were top notch and ready-to-implement.

Winners of the Ctrl Alt Debt Hackathon

To do our first ever online hackathon to attract software engineers and also to spread our brand, we chose Hackerearth. The team was very helpful at every stage and we were overwhelmed by the support coordination, openness to feedback and timely response from the team. They delivered the commitment on the registrations, and we were able to successfully complete the hackathon.

Sridevi Ramoo,
Director – People and Culture


Innovate boundlessly with our hackathons!