Australian fintech InDebted, specializing in debt recovery, has secured $41 million (A$60 million) in funding with participation from Airtree, Australian Retirement Trust, and Premier Capital Partners.
InDebted leverages artificial intelligence and machine learning to optimize the debt recovery process. Through their technological solution, each experience with debtors is personalized, maximizing the efficiency of operations that are traditionally considered intrusive and aggressive. Founded in 2016, the company partners with firms like Klarna, Trustly, and Snap Finance, and operates in various countries, including Australia, the United States, and Canada.
Thanks to the new funds, InDebted will expand its operations to the United Arab Emirates and Mexico, followed by Europe and South America. Part of the capital will also be allocated to the development and improvement of its products, as well as supporting its M&A (mergers and acquisitions) strategy. The funding values the company at $240 million (A$350 million).
