Aussie debt collection fintech InDebted bags $41m Series C
InDebted, an Australian fintech based in New South Wales, has bagged $41 million (A$60 million) in Series C funding.
InDebted lands $41 million Series C
The raise saw participation from both existing and new investors, including current shareholders Carthona, Reinventure and Perennial, as well as new backers Airtree, Australian Retirement Trust, and the growth fund Premier Capital Partners.
Additionally, Sydney-based VC firm SecondQuarter Ventures has acquired shares from angel investors and early employees.
Founded in 2016, InDebted serves as a debt collection partner for companies like Klarna, Trustly, and Snap Finance, claiming to enhance liquidation rates and gather valuable insights.
By leveraging AI and machine learning to personalise collections journeys, InDebted is “rewriting the narrative on debt collection” says Craig Blair, co-founder and partner at Airtree. This approach aims to “deliver ethical solutions that alleviate what has traditionally been a painful customer experience”.
The recent cash injection, which values InDebted at around $240 million (A$350 million), has been earmarked to drive the company’s expansion into new markets, fuel further product development, and help deliver on its M&A strategy.
Josh Foreman, InDebted’s founder and CEO, states: “This capital will enable us to further expand our operations around the world…we’re launching in the UAE and Mexico in September, and following this we’ll be using the fresh capital to further our presence in Europe and South America.”
