InDebted completes acquisition of Reminda
In a move that will further cement and expand its Australian market presence, InDebted has announced the completion of its agreement to acquire Reminda, a leading debt collection agency headquartered in Sydney.
The acquisition of Reminda marks InDebted’s renewed focus on M&A across its global markets in an industry ripe for consolidation. Leading a new era of debt collection for businesses and consumers alike, InDebted offers the only scalable, digitally intelligent and truly empathetic solution for recovering unsecured consumer debt. Reminda’s values alignment, strong financial performance and client base enabled the business to be a natural choice for InDebted’s inorganic growth strategy.
“We see great potential to strengthen our Australian operations by integrating Reminda fully into InDebted,” said Josh Foreman, Founder and CEO. “The talent, values and passion of their team has enabled them to build a business to be proud of, and we’re excited to bring them into the next chapter of our journey.”
“This acquisition has distinctive value for InDebted, particularly due to Reminda’s esteemed client base. We look forward to bringing them on board our product, and seeing the results of our advanced technology supporting their customers to get back on track.”
On a mission to change the world of consumer debt recovery for good, InDebted has its sights set on multiple acquisition opportunities across its global markets. Having acquired a debt collection business in the United States in 2021, InDebted has a proven-track record of accelerating its growth via the integration of businesses that fit its strategic M&A blueprint.
“We’re thrilled with this outcome for Reminda, and the opportunity this presents for our team and clients,” said Alex Ineson, Managing Director of Reminda. “I’ve admired InDebted’s truly differentiated approach to collections for years, and I’m personally excited to be joining the team of such a well regarded brand in the Australian market.”
Founded and headquartered in Australia in 2016, InDebted’s continued market expansion saw year over year revenue growth increase 115% in the United Kingdom and 107% in the United States during FY23. Its first acquisition in Australia reflects InDebted’s commitment to its roots, with a keen focus on driving market share from incumbent debt collection industry players within sectors including telecommunications, utilities and banking.
