ClearGrid, a FinTech firm specialising in AI-driven debt collection, has emerged from stealth with $10m in funding to modernise debt resolution in the MENA region.
The company aims to address inefficiencies in traditional collection practices by replacing outdated, aggressive tactics with an AI-powered, data-driven approach that benefits both lenders and borrowers.
The $10m funding was secured across two rounds. The pre-seed round was co-led by Raed Ventures and Beco Capital, while the seed round was co-led by Nuwa Capital and Raed Ventures. Other institutional investors include Aramco’s Waed Ventures, KBW Ventures, Sharaka, 9yards Capital, Protagonist, BYLD, Eirad Holdings, Endeavor Catalyst, and Wamda Capital.
The round also saw participation from notable angel investors, including Anu Hariharan (Avra), Jason Gardner (Marqeta), Bjorn Wagner (Parity Technologies), Amjad Masad (Replit), Vinay Menda (Blank Street), Justin Kan (Twitch), and several founders from the US and MENA.
Founded by Khalid Bin Bader Al Saud, Mohammad Al Zaben, and Mohammad Al Khalili, ClearGrid was created to tackle what they see as a fundamental information and coordination problem in debt collection. By leveraging AI and automation, the platform streamlines the recovery process, offering lenders increased efficiency and improving borrower engagement.
ClearGrid CEO Mohammad Al Zaben said, “Collections should be an extension of good lending—not an afterthought. At ClearGrid, we’re reimagining debt resolution from the ground up, giving lenders the intelligence and tools they need to recover capital effectively while creating better outcomes for borrowers.”
ClearGrid KSA chairman Khalid Bin Bader Al Saud added, “Financial systems must evolve with the digital world. Debt resolution should be a bridge to stability, not a roadblock. At ClearGrid, we’re redefining collections with a data-driven, technology-first approach that strengthens trust, ensuring credit fuels growth not distress. This is just the first step in building the infrastructure for the future of debt resolution.”
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