Indebted, a fast-growing fintech start-up that has digitised debt collections and been named as Australia’s best place to work, has doubled it valuation in a fresh funding round, while also laying off 40 employees in a bid to ride out the tech wreck.
The company closed a $22.5 million funding round led by existing backer Perennial Value Management, which its founder and chief executive Josh Foreman said valued the company just north of $200 million.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
