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§ Private Profile · Sydney, Australia
AI-powered debt collection and recovery software for financial services and enterprises, using empathetic digital channels.
InDebted provides AI-powered debt collection and recovery solutions across Australia, New Zealand, Canada, the United States, and the United Kingdom, focusing on empathetic, digital-first customer experiences. The organization develops products like Collect for third-party collections and Receeve for first-party cloud-based decisioning, utilizing automation and machine learning to support consumers in resolving overdue bills for financial services, fintechs, and credit providers. InDebted has grown to 250 employees and operates in five countries, having secured over A$120 million in funding across various rounds, including a $14 million Series A, $25 million Series B, and a recent A$60 million Series C. The company doubled its valuation post-Series B, with its funding supporting strategic growth, including the acquisition of AI-powered collections software Receeve. Founded by Josh Foreman, InDebted aims to transform traditional debt recovery methods with its multi-market scalability.
InDebted has raised $119.5M across 6 funding rounds.
InDebted has raised $119.5M in total across 6 funding rounds.
InDebted has raised $119.5M across 6 funding rounds. Most recently, it raised $41.0M Series C in September 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Sep 1, 2024 | $41M Series C | Airtree Ventures | Main Sequence Ventures, MassMutual Ventures, Tiger Global Management, Gregory Waldorf | Announced |
| Jul 26, 2022 | $22.5M Venture Round | — | — | Announced |
| Jul 1, 2022 | $23M Series U | — | MassMutual Ventures, Square PEG Capital | Announced |
| Jul 1, 2021 | $18M Series B | — | NFX, Tiger Global Management, ARI Klinger | Announced |
| Feb 1, 2020 | $14M Series A | — | MassMutual Ventures, Square PEG Capital | Announced |
| Apr 1, 2017 | $1M Seed | — | Main Sequence Ventures, NFX | Announced |
InDebted has raised $119.5M in total across 6 funding rounds.
InDebted's investors include Airtree Ventures, Main Sequence Ventures, MassMutual Ventures, Tiger Global Management, Gregory Waldorf, Square Peg Capital, NFX, Ari Klinger.
InDebted is a fintech company that builds AI-powered debt collection software, primarily the Collect platform, which serves businesses from startups to enterprises in sectors like fintech, BNPL (buy now, pay later), subscriptions, telco, and utilities. It solves the problem of outdated, aggressive debt recovery by offering personalized, empathetic digital experiences that boost recovery rates by up to 40% while improving customer satisfaction—evidenced by 4.9-star average ratings from over 2,500 Google reviews and support for 5M+ customers worldwide.[1][3][5][6] With operations across ANZ, North America, UK, LATAM (including Mexico), UAE, and Europe, InDebted has raised over $130M in funding, including a A$60M (~US$66M) Series C that valued it above US$467M, fueling global expansion, acquisitions like AI software Receeve, and profitability momentum.[2][4][5]
Founded in 2016 in Sydney, Australia (now headquartered in Barangaroo), by Josh Foreman, InDebted emerged from his vision to humanize debt collection using digital channels, launching the first version of Collect as a pioneer in data-driven, non-aggressive recovery.[1][4] Foreman, with his background in tech and customer-centric solutions, secured $1M in seed funding early on to refine the product, followed by $22.5M that doubled valuation and enabled UK entry—capped by being named Australia's Best Place to Work.[4] Pivotal moments include the Series C raise, two acquisitions for AI enhancements, and LATAM expansion into Mexico, transforming it from a startup to a global disruptor serving 130+ clients like Klarna and Affirm.[2][4][5]
InDebted rides the fintech wave of ethical AI in debt management, capitalizing on rising consumer debt amid economic pressures and demand for digital-first, compliant solutions in digital lending and BNPL—trends amplified by post-pandemic defaults and regulatory pushes for fair collections.[1][2][6] Timing is ideal as manual agencies lag in a $15B+ global market ripe for disruption; InDebted influences the ecosystem by setting standards for "collections intelligence," partnering with leaders like Upstart and Velocity, enabling scalable recoveries, and exporting humane tech models to emerging markets like LATAM.[2][5][7] This positions it as a category leader, fostering broader adoption of AI to balance business outcomes with customer well-being.[2][6]
InDebted's trajectory points to accelerated global dominance, with Series C funds driving M&A, product innovation in AI decisioning, and penetration into high-growth regions like LATAM and Europe—potentially doubling scale amid rising debt volumes. Trends like AI regulation, BNPL expansion, and economic volatility will shape its path, amplifying demand for its empathetic edge while competitors like Flow or Celeste trail in multi-market maturity.[1][2][5] Its influence may evolve into an industry backbone, redefining collections as a growth engine rather than a cost center—proving technology can make debt "flexible, easy, and supportive," true to its founding mission.[3][5][6]