ClearGrid, a pioneering AI-powered platform transforming debt collection in the Middle East and North Africa (MENA), emerged from stealth today announcing a significant $10 million funding round. The capital was raised across two stages: a pre-seed round co-led by Raed Ventures and Beco Capital, and a seed round co-led by Nuwa Capital and Raed Ventures. The rounds also attracted investment from key regional and international investors including Aramco's Waed Ventures, KBW Ventures, Sharaka, 9yards Capital, Protagonist, BYLD, Eirad Holdings, Endeavor Catalyst, and Wamda Capital, alongside a notable group of angel investors such as Anu Hariharan, Jason Gardner, and Justin Kan.
Founded by Khalid Bin Bader Al Saud, Mohammad Al Zaben, and Mohammad Al Khalili, ClearGrid seeks to disrupt a traditionally fragmented debt collection industry plagued by inefficient processes, aggressive tactics, and poor borrower experiences. ClearGrid addresses these challenges head-on with a modern AI-driven platform, doubling speed to resolution and significantly improving borrower engagement by up to 60%.
ClearGrid's AI-powered solution automates every stage of the debt recovery process, from initial borrower outreach to complex negotiations, providing lenders with scalable solutions and improving customer interactions. This technology-driven approach has rapidly proven effective; since its operational launch in 2024, ClearGrid has managed hundreds of millions in debt portfolios, securing partnerships with prominent fintech providers and leading banks across the UAE. Remarkably, ClearGrid achieved profitability in its UAE operations within the first year, demonstrating the platform’s strong market fit and potential for scalability.
Highlighting ClearGrid’s early success, a leading UAE bank doubled borrower engagement and boosted recovery rates by 30%. Additionally, a prominent Buy Now, Pay Later (BNPL) provider fully automated early-stage debt resolution using ClearGrid, achieving 95% automation, doubling resolution performance, and securing an impressive 4.8/5 customer satisfaction score.
"Collections should seamlessly integrate with good lending practices—not remain an afterthought," stated Mohammad Al Zaben, Co-Founder and CEO of ClearGrid. "We are redefining debt collection to help lenders recover effectively while significantly improving borrower outcomes."
Khalid Bin Bader Al Saud, Co-Founder and Chairman of ClearGrid KSA, added, "Financial systems must align with the digital era. ClearGrid’s data-driven and technology-centric solution builds trust between lenders and borrowers, enabling healthier financial ecosystems and economic growth."
ClearGrid plans to leverage this funding to expand further across the UAE and into Saudi Arabia, alongside broadening its technology capabilities. Future innovations include advanced AI and machine learning features for early risk detection, credit orchestration, AI-powered debt counseling, and debt consolidation services.
With this significant funding milestone, ClearGrid positions itself at the forefront of reshaping debt collection across MENA and creating more transparent, effective financial systems.
"ClearGrid represents the kind of visionary approach we invest in, fundamentally reshaping outdated industries through cutting-edge technology and strategic innovation," added Khaled Talhouni, Founding Partner at Nuwa Capital.
