InDebted Founder Steps Back as CEO to Focus on AI Strategy
Josh Foreman is stepping down as chief executive of InDebted, the AI-powered debt collection fintech he founded in 2016, to lead the company's product, engineering and AI strategy as a dedicated founder role. The company has launched an external search for his replacement.
Foreman wrote InDebted's first line of code a decade ago. He said the shift reflects his belief that the rise of agentic AI requires technical founders to return to hands-on building rather than managing day-to-day operations.
"At my core, I am a builder," Foreman said. "What is happening in AI right now demands that technical founders go back to their roots - not to retreat from the business, but to refound it."
Financial Performance Supports the Shift
InDebted closed March 2026 with an annual revenue run rate above $80 million, up 52 percent year-over-year, and posted record monthly profitability. The company achieved operating profitability in February 2024.
InDebted raised $60 million in a Series C round led by Airtree Ventures in September 2024, valuing the business at $350 million. The company reported a 110 percent compound annual growth rate at the time of that raise.
What the New Structure Looks Like
Foreman will retain a board seat and oversee the company's technical roadmap. The incoming CEO will manage operations, sales, go-to-market execution and international expansion.
InDebted operates across seven countries, manages more than $2 billion in accounts and serves 3.6 million customers across six million active accounts. The company acquired German collections software provider Receeve at the end of 2024.
Recent Product Expansion
InDebted launched two new products in recent months after operating with a single core offering for most of its history. Release handles late-stage debt portfolios, while Comply focuses on ensuring compliance within AI-driven collections.
Craig Blair, partner and co-founder at Airtree, endorsed the transition. "InDebted moved early to an AI-first operating model, and the latest quarter's results prove it's working," Blair said. "Having a product-minded founder like Josh with deep context at the helm of these decisions at a pivotal time for the industry is a real advantage."
No timeline has been announced for the new CEO appointment.
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