InDebted Company Profile

Background

Overview

InDebted is a global fintech company founded in 2016, specializing in digital debt collection solutions that prioritize customer experience and compliance. The company operates across multiple regions, including Australia, New Zealand, the United Kingdom, North America, Latin America, the UAE, and Europe. InDebted's mission is to revolutionize consumer debt recovery by providing a more empathetic and efficient approach to debt resolution.

Mission and Vision

InDebted's mission is to transform the world of consumer debt recovery by creating a better way for businesses to support their customers through debt. The company's vision is to empower consumers to manage their debts effectively, fostering financial well-being and reducing the stigma associated with debt.

Primary Area of Focus

InDebted focuses on providing digital-first debt collection solutions that leverage technology to enhance customer engagement and improve recovery rates. The company's core product, "Collect," is a third-party collections platform that utilizes machine learning and artificial intelligence to personalize the debt resolution journey for each individual.

Industry Significance

InDebted has established itself as a significant player in the debt collection industry by offering innovative, customer-centric solutions that challenge traditional collection methods. The company's approach has led to high customer satisfaction ratings, with over 2,500 five-star Google reviews, making it one of the highest-rated debt collection agencies globally.

Key Strategic Focus

Core Objectives

• Customer-Centric Debt Collection: Prioritize empathetic and personalized communication to enhance customer experience and improve recovery rates.

• Technological Innovation: Leverage AI and machine learning to automate and optimize debt collection processes, ensuring efficiency and scalability.

• Global Expansion: Extend operations into new markets to broaden the company's reach and impact in transforming debt recovery practices.

Specific Areas of Specialization

• Digital Debt Collection: Utilize digital channels such as SMS, email, and webchat to engage with debtors, providing a seamless and accessible experience.

• Self-Service Platforms: Offer self-service portals that empower consumers to manage their debts independently, fostering a sense of control and reducing stress associated with debt.

• Compliance and Risk Management: Integrate compliance requirements into the platform's code to ensure adherence to debt collection laws across various jurisdictions.

Key Technologies Utilized

• Artificial Intelligence (AI): Employ AI to personalize debt collection journeys, predict payment behaviors, and optimize communication strategies.

• Machine Learning (ML): Use ML algorithms to analyze data and improve decision-making processes, enhancing recovery rates and operational efficiency.

• Cloud Computing: Deploy cloud-based solutions to ensure scalability, security, and reliability of debt collection services.

Primary Markets Targeted

• Financial Institutions: Banks and credit unions seeking efficient and customer-friendly debt recovery solutions.

• Telecommunications and Utilities: Companies aiming to manage outstanding debts while maintaining positive customer relationships.

• Buy Now, Pay Later (BNPL) Providers: Fintech companies requiring scalable debt collection solutions to support their growth.

Financials and Funding

Funding History

InDebted has successfully raised a total of $97.6 million across seven funding rounds, demonstrating strong investor confidence in its business model and growth potential.

Recent Funding Rounds

• Series C Funding (September 2024): Raised A$60 million (approximately US$40 million), valuing the company at over A$350 million (approximately US$250 million). This round was led by Airtree and supported by existing investors such as Reinventure, Carthona, and Perennial.

Notable Investors

• Airtree: A leading venture capital firm that has been instrumental in supporting InDebted's growth.

• Reinventure: An early investor that has continued to support InDebted through multiple funding rounds.

• Carthona Capital: A venture capital firm known for investing in high-growth technology companies.

• Perennial Value Management: An investment firm that has recognized InDebted's potential in the fintech sector.

Utilization of Capital

The funds raised are allocated towards:

• International Expansion: Entering new markets to broaden the company's global footprint.

• Product Development: Enhancing the "Collect" platform and integrating new technologies to improve service offerings.

• Strategic Acquisitions: Acquiring companies that complement InDebted's services and accelerate growth.

Pipeline Development

Key Pipeline Candidates

InDebted's strategic acquisitions have significantly bolstered its capabilities:

• Receeve (December 2024): Acquired to enhance the company's collections decisioning software, enabling more efficient and data-driven debt recovery processes.

• Delta Outsource Group (February 2021): Acquired to strengthen InDebted's presence in the United States and expand its service offerings.

• Reminda (2022): Acquired to solidify InDebted's position in the Australian market and enhance its technological capabilities.

Stages of Development

These acquisitions are in the integration phase, focusing on aligning operations, technologies, and cultures to maximize synergies and accelerate growth.

Target Conditions

The acquisitions aim to address the following:

• Operational Efficiency: Streamlining debt collection processes to improve recovery rates and reduce costs.

• Market Expansion: Entering new geographic regions and customer segments to diversify revenue streams.

• Technological Advancement: Integrating advanced technologies to enhance service offerings and maintain a competitive edge.

Anticipated Milestones

• Integration Completion: Achieving full integration of acquired companies within 12 months to realize operational synergies.

• Market Penetration: Establishing a significant presence in new markets within 18 months post-acquisition.

• Product Enhancement: Launching enhanced features and services resulting from acquisitions within 6 months.

Technological Platform and Innovation

Proprietary Technologies

• "Collect" Platform: A cloud-based debt collection solution that utilizes AI and machine learning to personalize debt resolution journeys, offering a self-service portal for consumers and automated communication channels.

Significant Scientific Methods

• Predictive Analytics: Employing AI-driven models to predict debtor behavior and optimize collection strategies.

• Natural Language Processing (NLP): Utilizing NLP to analyze and generate human-like communication, enhancing customer engagement.

AI-Driven Capabilities

• Personalized Communication: Tailoring messages based on individual debtor profiles to improve engagement and recovery rates.

• Automated Decision-Making: Implementing AI algorithms to assess payment capabilities and propose suitable repayment plans.

Leadership Team

Josh Foreman – Founder & CEO

Josh Foreman founded InDebted in 2016 and serves as the Chief Executive Officer. Under his leadership, the company has grown into a global fintech leader, focusing on customer-centric debt collection solutions.

Ellie Tahzib – Chief Operating Officer

Ellie Tahzib brings over a decade of experience in customer operations and consumer collections. She oversees global operations, driving the company's success with her strategic insights and leadership.

Pierre Bergamin – Chief Technology Officer

With over 15 years of engineering leadership experience, Pierre Bergamin leads InDebted's engineering teams, architecting solutions that revolutionize the collections industry through technology.

Emma Atkin – Executive Vice President of Marketing & Managing Director UK

Emma Atkin leads InDebted's global go-to-market teams to drive brand and revenue growth. Her background spans brand development, strategic communications, public relations, and growth marketing.

Nic Chin – Chief Financial Officer

Nic Chin brings over 17 years of investment banking, private equity, strategy, and CFO experience to InDebted. He drives the company's growth opportunities, including mergers and acquisitions, to deliver on the company's long-term strategy.

Pierre Vercueil – Chief of Staff & Executive Director, UAE

Pierre Vercueil leads strategic alignment and operational excellence initiatives, overseeing activities in the UAE region to support InDebted's expansion and business objectives.