Debt collection fintech InDebted has raised $41 million in a Series C funding round, positioning the company for further global expansion and product development. This latest capital raise values the company at more than $240 million.
Key players: The funding round was led by Airtree Ventures, with participation from Australian Retirement Trust, Carthona Capital, Reinventure, and Perennial. Existing investors doubled down on their commitment to the fintech, which has already achieved profitability and is experiencing significant growth.
What they’re saying: Craig Blair, Co-founder at Airtree, praised InDebted for its technological innovation, stating, “InDebted is rewriting the narrative on debt collection. Their ethical, data-driven approach positions them as leaders in the industry.”
- Josh Foreman, InDebted Founder and CEO: “Globally, the debt collection industry is ripe for consolidation, and this capital injection ensures we are well placed to continue our participation in this consolidation to further drive profitable growth for our investors, while progressing the sector at large.”
Zoom in: The new capital will support InDebted’s expansion into new markets, including the Middle East and South America, as well as its mergers and acquisitions strategy. The company currently operates in Australia, New Zealand, Canada, the US, and the UK.
- The company is planning on expanding into the UAE and Mexico this month.
Zoom out: InDebted entered the United States collection market back in 2021, when it purchased Delta Outsource Group.
By the numbers:
- $41 million raised in Series C
- Valuation exceeds $240 million
- 110% compound annual growth rate
- Achieved operating profitability in February 2024
