InDebted Secures $25M in Series B Funding
It’s an exciting day here at InDebted as we announce the next stage of our journey and our $25m Series B funding round. This is not only a huge vote of confidence, but a challenge to do even more and change the world for the better.
When I started the company 5 years ago it was to deliver on a mission to erase the stigma of debt collection. In many ways I think we have largely done that. It would have seemed crazy 5 years ago to think about getting positive reviews from customers in collections, it now happens multiple times a day at InDebted.
What I have learnt through the journey thus far is that providing an amazing experience for customers in collections is not enough. We have to do more. We need to support customers on their debt free journey by providing them with the financial fitness tools they need to succeed. We also need to support customers who have accounts that are not placed with InDebted, those who use other products such as debt management, and those that simply want to achieve a debt free life. Today we are making our commitment to do just that.
This funding round will allow us to continue to scale our superior collections product globally, get it into the hands of hundreds of millions of customers around the world who need it, and deliver a truly global collections API. It will also allow us to invest further in delivering a range of products that will support our customers on living a more empowered and financially fit lifestyle.
We are thrilled to have the Perennial Value Management team join us as the lead investor for this round. It’s been great to get to know Ryan, Brendan and Andrew from Perennial during this process and we are excited for the journey ahead. I’d also like to thank our existing investors Reinventure, Carthona and Mass Mutual Ventures (Southeast Asia) who also participated in the round and continue to support InDebted.
We are now successfully operating in five markets (AU, NZ, CA, US, UK) and will be announcing our entry into a bunch of new markets throughout the rest of the year. We are very much executing on our goal of delivering a global collections API and it is exciting to see many of our large global clients using our product in multiple markets around the world.
We couldn’t have done what we have achieved to date without the dedication, drive and enthusiasm of our amazing team. I’d like to thank them for their hard work and uncompromising commitment to supporting our clients and their customers. If you would like to join this awesome team, please head to our careers page as we have multiple roles open around the world.
Read more on the Australian Financial Review.
Onward and upward 🚀