By Funded Work Editorial Desk · AI-assisted summary · sources linked below when available
Blackbird and Antler back OpenDebt's $2M US push for AI debt recovery
Sydney fintech OpenDebt, founded by ex-Westpac data and AI executive Norman Yan with Jonas Tischer, will use the pre-Seed to scale its team and explore US partnerships.
OpenDebt, the Sydney AI fintech applying artificial intelligence to debt recovery, has raised $2 million in a pre-Seed round backed by Blackbird and early-stage VC Antler.
The company was founded 12 months ago by Norman Yan, a former Westpac data and AI executive with 15 years in banking, alongside Jonas Tischer. OpenDebt takes a compliance and consumer-focused approach to debt recovery, using AI agents in multichannel conversations.
The capital will be deployed on scaling the team and operations, as well as exploring US partnership opportunities. The expansion target is a substantial one: household debt in delinquency in the US tops $1 trillion.
For Blackbird, the investment continues its run of backing Australian fintechs at the earliest stage. Antler, which focuses on early-stage startups, joins as a co-backer of the round.
OpenDebt's pitch is built around using AI to handle debt recovery conversations while keeping a consumer-focused, compliance-aware stance. With the fresh funding, the company is now looking to take that model beyond Australia and into one of the world's largest consumer debt markets.
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