One of the rarely discussed impacts of the pandemic has been the insane amount of debt drawn upon around the world where global debt has reached record highs of USD $300 trillion. This has presented an opportune time for debt recovery tech company Credit Clear (ASX: CCR) to partner with debt collection company Techub on a multi-billion-dollar debt portfolio.

The deal comes in the form of a global Partnering and Teaming Agreement with Johannesburg-based Centriciti Techub Pty Ltd and Credit Solutions Services CSS, collectively Techub.

With the agreement signed, Credit Clear will immediately deploy their accounts receivable management solution to South Africa where Techub will trial it for 3 months on a select number of debt portfolios.

“Credit Clear has flagged international expansion as a key strategic growth priority. The Partnering and Teaming Agreement with Techub delivers our most significant international opportunity to date,” said Credit Clear CEO, David Hentschke.

“The agreement allows for a deep and meaningful partnership, where Credit Clear’s industry leading digital platform, which incorporates behavioural analytics and adaptive workflows, will be put to work across multiple campaigns within Techub’s multi-billion-dollar account receivables portfolio.

“Appling our technology to Techub’s multi-billion-dollar portfolio of account receivables, is exactly how we envisaged the pathway to global expansion and scale. Taking our technology to new markets, businesses and customers is tremendously exciting, it is another demonstration of the power of technology and the scalability of SaaS software.”

By partnering with Techub, Credit Clear gains substantial revenue exposure to South Africa, the United Kingdom and the United States where Techub has a large presence, without incurring the setup expenses themselves.

Techub has identified a minimum portfolio of $50m and up to $100m on a rolling 3-month basis on which to implement Credit Clear’s digital platform where all revenue generated will be split equally between the two debt recovery companies.

Should the 3-month trial meet all internal expectations, Techhub has more than $1 billion in their portfolio of recoverable debt which Credit Clear would be able to also target with their platform.

In addition to the agreement, Credit Clear has granted exclusivity of their proprietary platform in the African market.

CCR shares responded well to news of the Techub partnership to reach a high of $0.575 in morning trade, a rise of 19.7% on their previous $0.48 close.

Credit Clear manages more than 350,000 active customer accounts across a range of industries including transport, financial services, insurance, government and utilities