Australian FinTech InDebted secures $40m in Series C round

By Gloria Mathias

InDebted, a global debt collection FinTech, has announced the completion of its $40 million Series C capital raise, which values the company at more than $250 million.

The capital injection reflects a decisive vote of confidence in InDebted’s differentiated products and solutions, financial and operational performance, and global growth strategy.

InDebted provides future-thinking organisations with a better alternative to traditional debt collection agencies. By using technology such as machine learning to personalise the journey of every collection, with the support of a dedicated customer experience team, InDebted makes the experience of debt resolution more human.

The Australian-founded organisation has a significant presence in its home country but generates 70% of group revenue from its US operations, an increase of 195% over the last fiscal year. Almost half of the company’s 300 employees are based throughout the United States, including its Founder and CEO, Josh Foreman, who relocated to the US in 2023.

Led by Airtree and supported by a range of existing and new investors, the new capital is not required to support existing operations and will be used to fuel further growth, such as expansion into new markets, delivery of its M&A strategy, and development of the company’s products and solutions.

InDebted Founder and CEO Josh Foreman stated, “We’re launching in the UAE and Mexico next month, and following this, we’ll use the fresh capital to further our presence in Europe and South America.”

“While the demand for InDebted’s differentiated solution is global, the United States is a key part of our growth story, where InDebted has been referred $2B in accounts by US organisations who care about supporting their customers with a positive collection experience driven by technology,” added Foreman.