Australian debt management fintech InDebted is expanding in the US and New Zealand via the unusual route of acquiring legacy companies.
Capital Brief can reveal that InDebted has just made two more acquisitions, bringing its total to five in five years.
Typically, it is the opposite trend with fintechs — established legacy players often acquire innovative or potentially threatening fintechs.
However, InDebted founder Josh Foreman said the company’s strategy was driven by its financial capacity, allowing it to build scale — and, critically, acquire regulatory licences — without lengthy and difficult builds.