InDebted completes a £30m capital raise

InDebted, has announced the completion of its £30 million Series C capital raise, valuing the company at almost £200 million.

The company uses technology such as machine learning to personalise the collection’s journey, with the support of a dedicated Customer Experience team.

Originally founded in Australia, InDebted expanded into the UK in 2022, experiencing 327% YoY growth in the UK in FY24.

Primary investors include Airtree, Australian Retirement Trust and new growth fund Premier Capital Partners. Existing shareholders Reinventure, Carthona and Perennial have also participated, with Second Quarter Ventures purchasing shares from angel investors and early employees.

The new capital will be used to fuel further growth such as expansion into new markets, delivery of its M&A strategy, and developing the company’s products and solutions.

InDebted Founder and CEO Josh Foreman said “Everyone has an image of debt collectors, and it’ s rarely a favourable one. Our mission is to change the world of consumer debt for good, by providing organisations with a better alternative to traditional debt collection agencies when their customers fall behind.

“When UK consumers are having to fill the budgeting gaps caused by ongoing cost of living challenges with increasing use of credit, the role of debt collection becomes more prevalent than ever. We believe that empathy, flexibility and convenience must lead the way

Airtree Co-founder and Partner Craig Blair said “InDebted’s global success, product innovation and best-in-class growth and performance made partnering with the team for this next stage an easy decision.

”We first invested in InDebted’ s seed round seeing the huge potential for efficiency gains by applying technology to a very large, manual industry. Since then, the team has continued to impress us by creating an empathetic solution to a difficult problem, becoming the only partner for organisations who are serious about customer experience”