The capital will drive global expansion, M&A activities, and product development, as the company prepares to launch in the UAE and Mexico.
With a valuation exceeding A$350million, InDebted achieved profitability in February 2024 and has grown with a compound annual growth rate of 110 per cent.
Key investors include Airtree, Australian Retirement Trust, Premier Capital Partners, and Reinventure.
InDebted founder and CEO Josh Foreman said this funding injection signals an extremely strong vote of confidence in InDebted’s differentiated solution for organisations who care about supporting their customers with a positive collections experience driven by technology.
“This capital will enable us to further expand our operations around the world, where we’re experiencing significant demand for the solution we provide. 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.
"While our vision is global, I’m incredibly proud that this raise consists almost exclusively of Australian capital to accelerate InDebted into the next chapter. We’re thrilled to have the support of Airtree, one of Australia’s largest and most renowned venture funds, along with existing investors reinforcing their belief in our mission to change the world of consumer debt for good - and our proven ability in delivering on this."
