ClearGrid gets $10m funding to boost AI-powered debt collection in MENA
To transform MENA debt collection
ClearGrid, an AI-powered debt collection platform based in Dubai, UAE, has generated a $10 million funding raise from stealth mode. The company aims to transform the debt collection industry in the Middle East and North Africa (MENA) region, shifting traditional collection methods into a modern, data-driven approach that enhances both lender recovery rates and borrower experiences.
The funding was secured across two rounds, with the pre-seed round co-led by Raed Ventures and Beco Capital. The seed round was co-led by Nuwa Capital and Raed Ventures, with significant contributions from institutional investors, including Aramco’s Waed Ventures, KBW Ventures, Sharaka, 9yards Capital, Protagonist, BYLD, Eirad Holdings, Endeavor Catalyst, and Wamda Capital. The funding also attracted several prominent angel investors.
ClearGrid was founded by Khalid Bin Bader Al Saud, Mohammad Al Zaben, and Mohammad Al Khalili, who identified debt collection as an under-optimised industry with fundamental inefficiencies in data and coordination.
After facing these career challenges, the trio sought to replace traditional, aggressive collection tactics with a more compassionate, data-driven approach that benefits lenders and borrowers.
“We believe collections should be an extension of good lending—not an afterthought,” said Mohammad Al Zaben, Co-Founder and CEO of ClearGrid.
“At ClearGrid, we’re reimagining debt resolution from the ground up, equipping lenders with the intelligence and tools needed to recover capital effectively while creating better outcomes for borrowers.”
ClearGrid’s platform leverages AI to automate every step of the debt recovery process, from initial borrower engagement to negotiations. By utilising AI, self-service tools, and omnichannel outreach, ClearGrid reduces resolution times and increases recovery rates. The platform is designed to scale with lenders’ evolving needs, providing a better borrower experience along the way.
Since its launch in 2024, ClearGrid has managed hundreds of millions in debt portfolios and secured partnerships with some of the most prominent fintech players in the MENA region. The company has also established relationships with leading banks in the MENA region and has signed over 10 major enterprise clients.
ClearGrid is focused on expanding its operations, with plans to grow its presence in the UAE and enter the Saudi Arabian market. ClearGrid achieved profitability in UAE operations within just one year, although the company prioritises scaling its platform over immediate profits.
ClearGrid plans to expand its capabilities beyond debt collection, addressing broader challenges throughout the lending lifecycle. The company’s future roadmap includes building advanced collections systems integrating AI and machine learning, offering early risk detection, credit orchestration, and alternative risk assessments. Additionally, ClearGrid aims to expand into AI-powered debt counselling and consolidation services, positioning itself as a cornerstone of a more efficient, transparent financial system in the MENA region and beyond.
The demand for efficient, technology-enabled debt collection solutions is growing as the digital lending sector expands across the MENA region. Traditional agencies, which still rely on outdated manual processes, are being increasingly outpaced by ClearGrid’s innovative platform, offering faster, more intelligent, and more effective debt resolution.
Hero image: ClearGrid’s platform leverages AI to automate every step of the debt recovery process. ClearGrid
Last Updated on 1 week by Arnold Pinto
