InDebted, an Australia-based fintech that specializes in digital debt collection for unsecured consumer debt, announced on Monday it has acquired Delta Outsourced Group Inc. as it prepares to expand its services to the U.S. InDebted reported that the U.S. is the fourth market it has entered in and will be a “key focused” for its business.
InDebted reported that the Delta acquisition will expedite the U.S> launch and provide a “solid foundation” for the business.
“The rapid growth of InDebted fintech clients, especially in the American market, has prompted InDebted to bring forward it’s entry into the USA to meet the growing needs of these clients. This combined with the recent policy update by the CFPB with regard to the Fair Debt Collection Practices Act (1977) to allow digital contact methods as valid methods of customer outreach has provided an enormous opportunity for InDebted’s digital collections platform.”
InDebted also noted it welcomed three key executives into the business. Joe Gelbard joins InDebted as Chief Revenue Officer and is responsible for revenue growth and client engagement. Tim Collins joins InDebted as Chief Customer Officer and will be responsible for all customer-facing functions as well as legal, risk, and compliance. John Watson joins the InDebted group as the new CEO of Delta and is responsible for the operations of Delta. Both Watson and Gelbard are based in San Francisco, while Collins is based in Los Angeles. Speaking about the acquisition and expansion, Josh Foreman, InDebted’s Founder and CEO, added:
“2021 is off to a flying start for InDebted. Our acquisition of Delta will supercharge our entry into the U.S.,which is going to be a very important market for our business, especially in light of the regulatory changes to collections recently proposed by the CFPB that legitimise digital collections across multiple channels, which is what InDebted was built for. I’m also really looking forward to working with Tim, Joe and John who are widely respected in the collections industry and are going to help us scale the InDebted operations both domestically in the USA as well as internationally.”