A tough economy is a boon for digital debt collector Indebted, which has $22.5m in new funding, but in a sign of a broader tech slump it has also cut 17 per cent of staff.
, has doubled it valuation in a fresh funding round, while also laying off 40 employees in a bid to ride out the tech wreck.
Other returning investors in the round include Sydney-based Carthona Capital and Singaporean venture fund MassMutual Ventures. The good times came to an end for 40 employees about three weeks ago, just before the end of the financial year, with most of the people made redundant being in sales and marketing related roles, rather than tech and product development.“It is the hardest thing I’ve ever done in the company, without question,” Mr Foreman said.
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