IODM [ASX:IOD], an Australian cloud-based debt collection services provider, will consider joint ventures (JVs) and acquisitions as part of it's international rollout, said MD Damian Arena.
The Melbourne-based AUD 14m (USD 10m) market cap fintech, which already has Australian and New Zealand corporate clients, plans to roll out in the UK in early 2017, initially via a satellite office, Arena said.
This will be followed by European markets such as Germany in the next six to 12 months, and the US after 12 months, Arena said. He added that IODM would consider raising capital if necessary to penetrate the US market.
IODM is working with PwC but is happy to hear from other advisors for it's offshore expansion, including firms that can bring suggestions around potential JV partners or acquisitions, Arena said.
Suitable JV partners would be companies with large numbers of small-to-medium sized clients that have debtor books, Arena said, citing as examples Big 4 consulting firms and banks.
Partners could also include traditional debt collection service providers, he added, explaining that IODM automates processes and provides a pre-collection service of seven to 90 days, rather than the traditional 90-day or 120-day collections.
Potential acquisition targets would include bookkeeping or accounting firms, Arena said. IODM's digital debt collection software package interfaces with key accounting platforms such as MYOB, Xero and Intuit-QBO.