Participating in the financing were both new and present investors, including the growth fund Premier Capital Partners, Airtree, Australian Retirement Trust, and current shareholders Carthona, Reinventure, and Perennial.

Furthermore, early workers and angel investors have contributed shares to Sydney-based venture capital firm SecondQuarter Ventures.

Founded in 2016, InDebted claims to improve liquidation rates and get insightful data while acting as a debt collecting partner for businesses such as Klarna, Trustly, and Snap Finance.

Craig Blair, co-founder and partner at Airtree, claims that InDebted is "rewriting the narrative on debt collection" by using AI and machine learning to personalize collections trips. "Deliver ethical solutions that alleviate what has traditionally been a painful customer experience" is the stated goal of this strategy.

The latest funding round, which puts InDebted's market worth at about $240 million (A$350 million), will be used to support product development, market expansion, and the company's M&A strategy.

The CEO and creator of InDebted, Josh Foreman, says, "With this capital, we will be able to further expand our operations around the world."September marks our debut in the United Arab Emirates and Mexico. After that, we plan to use the additional funds to expand into Europe and South America.