Announcing InDebted's Series A
We're thrilled to announce an exciting new chapter in the journey of InDebted: we've raised $14 million in our Series A funding round!
Our Series A is a testament to the amazing work that our team puts in every day to deliver on our mission to erase the stigma of debt collection and to fulfil our vision to empower through financial fitness.
The new funding also welcomes some new faces on the journey, along with some familiar ones who have supported us since the start. The round was co-led by Carthona Capital and MassMutual Ventures Southeast Asia with follow-on support by Reinventure.
Carthona Capital partner Dean Dorrell: "We believe InDebted is leading a complete revolution of this industry. We’re incredibly excited to have joined the talented team at InDebted".
MassMutual Ventures SEA managing director Ryan Collins: "InDebted is leading the way in bringing radical change to the debt collection industry, with a focus on helping customers to get back on their feet and improve their financial well-being. We are looking forward to joining them on their journey".
Reinventure general partner Rohen Sood: "The team at InDebted continues to impress us. Not only are the fundamentals of the business strong, the team is driven by a vision to make a difference in an industry that desperately needs change".
Debt collection is just the start
Over the last 3 years we have proven the three key pillars of our business. That digital-first engagement is the best way to connect with customers. That data holds the key to personalising engagement strategies at the customer level. And most importantly, that none of the above matters if you don't have a core focus on customer experience.
Proving the above has allowed us to do what no other collections business has been able to - truly connect with customers. Actually hear their stories, understand their pain points, and build a product that solves a real problem. We have productised debt collection.
Like all good product companies you evolve through customer feedback. You experiment, iterate, and refine constantly in the persuit of a better product. To that end we're excited for the next stage of our journey, one that is bigger than just debt collection.
A platform for financial fitness
“This is bigger than debt collection, we're building a platform for financial fitness.”
As the highest rated collection agency in the world we're in a unique position to suport our customers. Not only with resolving their accounts but also accessing resources that empower their financial fitness.
To us financial fitness is akin to physical fitness. Practising financial fitness supports your overall financial health in the same way that physical fitness supports overall physical health.
Paying overdue accounts is just one aspect of becoming more financially fit and thus this represents the next horizon for us. This is bigger than debt collection, we're building a platform for financial fitness. Stay tuned for more exciting updates 🚀