Indebted
Founded 2016 Β· 214 employees on LinkedIn Β· 14 known investors
InDebted provides cloud-based debt collection software that uses machine learning to automate collections decisioning and improve customer engagement for enterprise clients. It serves lenders and financial companies with an outsourced, compliance-focused collections service, operating across ANZ, the UK, North America, Latin America, the UAE and Europe.
Also known as InDebted
Founders & leadership
Indebted was founded in 2016 by Josh Foreman.
Investors Β· 14
Also in the syndicate Β· 6
Funding
SEC filings, press & company announcements- Undisclosed amountSeries CSep 2024 Β· 2 sources
Airtree (lead), Australian Retirement Trust, Carthona, Perennial, Premier Capital Partners, Reinventure
Source β
Source: company announcements and press reports β follow each round's link for the claim.
Valuation Β· disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed β follow each entry's link for the claim.
Company profile
researched Aug 2026InDebted provides technology-led consumer debt collection for organisations that need to recover unsecured consumer debt. Its offering is split into two products: Collect, a third-party outsourced collections service that combines digital customer engagement with embedded compliance controls, and Receive, a cloud-based first-party collections decisioning platform aimed at improving the efficiency of an organisation's internal collections operations. Consumers interact with the company through self-service digital channels, logging in with a secure code sent by SMS or email to view balances, pay immediately, or configure a payment plan by amount, frequency and start date, with local payment methods varying by country and debit card the most common.
The company positions itself as an alternative to traditional collection agencies and credit bureaus, arguing that empathetic, digital-first engagement produces better recovery outcomes than conventional, more aggressive approaches. It reports being available in six regions β ANZ, the UK, North America, Latin America, the UAE and Europe β and cites more than 130 client partners including Klarna, Affirm, Upstart and Velocity, over 5 million consumers supported, and more than 2,700 Google reviews averaging 4.8-4.9 stars. Growth has been both organic and inorganic: InDebted entered the US through the 2021 acquisition of Delta Outsource Group, acquired Sydney-based agency Reminda in 2023, and acquired AI-powered collections software company Receive following its A$60 million Series C round.
Founding story
InDebted was founded in Australia in 2016 by Josh Foreman, who built the first generation of the Collect product to pioneer the use of digital channels for debt collection.
Business model
InDebted sells to organisations that hold overdue consumer receivables, providing outsourced third-party collections (Collect) and licensed first-party collections decisioning software (Receive). It reported reaching operating profitability in February 2024 with a compound annual growth rate of 110%, and year-over-year revenue growth of 115% in the United Kingdom and 107% in the United States during FY23.
Revenue comes from serving client organisations' collections needs through an outsourced third-party collections service and a cloud-based first-party collections platform; specific pricing terms are not disclosed.
Traction
More than 5 million customers supported, over 130 client partners, over $130M in capital raised, more than 2,700 Google reviews, and 1.8 billion unique insights feeding its machine learning models. The company reported operating profitability from February 2024 and a 110% compound annual growth rate.
Latest developments
The company has announced that its founder is returning to a product role as AI acceleration reshapes global collections infrastructure, and has launched a search for a new CEO, citing founder-led product velocity behind its strongest quarter to date. It also announced the acquisition of Receive to address the enterprise collections market and entry into Mexico in partnership with Aplazo.
βΈFull profile β market position, technology, go-to-market, geography, history
Market position
InDebted describes itself as a challenger to traditional collections agencies and credit bureaus across the United States, Canada, Australia, New Zealand, Mexico, the UAE and the United Kingdom, and was valued at more than A$350 million (about US$467 million) at its 2024 Series C.
The company differentiates on consumer experience β self-service digital payment plans, empathetic communications and a publicly cited 4.8-4.9 star average across more than 2,700 Google reviews β combined with machine-learning-driven decisioning and hard-coded compliance, in contrast to manual, call-centre-based incumbents.
Technology
InDebted applies artificial intelligence and machine learning to personalise collections communications and decisioning, drawing on what it describes as 1.8 billion unique insights feeding its machine learning models. Its consumer-facing portal uses 256-bit SSL/TLS encryption, and compliance rules are built into the third-party collections product.
Go-to-market
The company sells directly to enterprise clients and expands geographically into new markets, often paired with anchor partnerships (for example entering Mexico alongside Aplazo) and with acquisitions used to gain market presence, as in the United States and Australia.
Enterprise creditors and lenders with unsecured consumer receivables, including fintechs and buy-now-pay-later providers (Klarna, Affirm, Upstart, Velocity, Aplazo in Mexico), plus telecommunications, utilities and banking sectors.
Geography
Founded and headquartered in Australia, with operations spanning ANZ, the UK, North America (United States and Canada), Latin America (Mexico), the UAE and Europe. Customer support entities operate in Australia, Canada, Mexico, New Zealand, the UAE, the UK and the US.
History
After its 2016 founding, InDebted raised $1M in seed funding and expanded from Australia into New Zealand. It subsequently raised a $14M Series A while expanding into Canada, then entered the United States via acquisition, grew to a team of 250, signed global fintech partnerships and raised a $25M Series B. It launched in the UK, was named Australia's Best Place to Work by the Australian Financial Review, and raised $22.5M at double its prior valuation. In 2021 it acquired US firm Delta Outsource Group; in October 2023 it completed the acquisition of Sydney-based agency Reminda. In September 2024 it announced an A$60M Series C led by Airtree, which funded further growth and two acquisitions including collections software company Receive, followed by entry into Mexico.
Compiled by commissioned research from 8 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Timeline Β· 8
launches, deals, and filingsInDebted announced that founder Josh Foreman is returning to product as AI acceleration opens a new era for global collections infrastructure, and the company launched a search for a new CEO.
InDebted launched in the UAE and Mexico, marking the start of its LATAM journey and entry into the Middle East.
In a transaction separate from the Series C, Second Quarter Ventures, led by Leigh Jasper, acquired US$13m (Β£10m) worth of existing shares from angel investors and early employees.
$13M source β
InDebted acquired AI-powered collections software company Receive to target the enterprise collections market, following its A$60 million Series C round.
InDebted entered the Mexican market in partnership with Aplazo (APLAZO.MX) to serve the country's fintech sector.
InDebted completed its acquisition of Reminda, a Sydney-headquartered debt collection agency, to expand its Australian market presence. Reminda Managing Director Alex Ineson joined InDebted.
InDebted entered the North American market through the acquisition of US debt collection firm Delta Outsource Group.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
βΈResearch sources Β· 8
primary sources listed
- Indebtedindebted.co Β· web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Indebted do?
- InDebted is an Australian fintech using AI and machine learning to run digital consumer debt collection for global lenders.
- Who founded Indebted?
- Indebted was founded by Josh Foreman in 2016.
- Who are Indebted's investors?
- Indebted's investors include MassMutual Ventures, Crane Venture Partners, Perennial Partners, Premier Capital Partners, Reinventure Group, Xilium Capital, Carthona Capital, OneVentures.