InDebted has acquired Debtworks, strengthening its presence in New Zealand's debt collection sector and naming its first country head based in the market.
The acquisition follows a competitive process managed by PwC and represents InDebted's fifth international purchase. This move expands InDebted's operations within New Zealand, adding significant sector expertise across telecommunications, government, and utilities through the integration of the Debtworks business.
Strategic expansion
Debtworks is acknowledged for its long-standing involvement with all three major telecommunications providers in New Zealand and for its broad client roster in government and utilities. Its Managing Director, Leyden Tolhurst, will remain in a leadership capacity as Managing Director of InDebted New Zealand, becoming the company's first country head situated locally in the market.
"New Zealand is one of our most exciting growth markets," said Josh Foreman, Founder and CEO of InDebted. "Debtworks brings proven sector leadership, and Leyden and the team have built an incredibly impressive business. Their strong financial performance, efficiency and AI advancements made them a perfect profile to further drive our New Zealand presence."
Tolhurst has played a significant role at Debtworks over the past decade, contributing to the formation of enduring partnerships with a range of respected New Zealand organisations. Under his ongoing leadership, InDebted aims to enhance its portfolio of services in the region. The company's Collect and Receeve offerings will now have expanded representation, supported by a team familiar to existing clients.
Local leadership and integration
"We're combining local knowledge with global innovation - and that's what makes this partnership so powerful," said Leyden Tolhurst, Managing Director, InDebted New Zealand. "I'm proud of what we've achieved at Debtworks, and I'm excited to continue that journey as part of InDebted. Together, we're delivering smarter collections and better outcomes for clients and consumers across the region."
Clients are expected to benefit from access to InDebted's AI-driven global platform, which is designed to offer improved collections performance and consumer engagement, while maintaining the continuity that existing relationships with Debtworks have offered.
The acquisition is part of InDebted's broader strategy to accelerate its impact through targeted demand in global markets and by providing digital debt resolution infrastructure. Since its foundation in Australia in 2016, InDebted has undertaken a series of international acquisitions to support the scale of its operations.
Future integration approach
The announcement states that there will be no immediate changes for existing Debtworks clients or the consumers they service. The integration between InDebted and Debtworks is expected to proceed in phases, aiming to ensure continuity of service alongside future improvements in data insights, operational flexibility, and support for consumers.
Recent activities by InDebted have included global expansion in regions such as the United States, UAE and Europe, as well as the acquisition of Receeve, an enterprise software platform. The addition of Debtworks places InDebted among the largest collections firms in New Zealand, with capabilities spanning digital infrastructure and a focus on consumer experience.
InDebted's approach to mergers and acquisitions remains a central element of its strategy to increase access to its AI-driven tools for debt resolution and to implement operational changes within the collections industry. The latest transaction underscores an ongoing interest among fintech companies in leveraging digital platforms to modernise segments of financial services considered reliant on traditional models.