Middle Eastern debt collection operations receive an upgrade with $10 million investment by ClearGrid for modernization and automation.
In the bustling world of fintech, a UAE-based startup named ClearGrid is making waves with its innovative approach to debt collection. Since its launch in 2023, the company has managed hundreds of millions in debt portfolios and secured partnerships with the region's leading banks and fintech players [1].
ClearGrid's success story began with a bang, as it achieved profitability for its UAE operation within a year of launch and signed over 10 major enterprise clients [1]. The startup's impact has been substantial, with one major UAE bank doubling borrower engagement, leading to a 30% improvement in recovery rates [2]. A leading Buy Now Pay Later (BNPL) provider saw its early-stage debt resolution fully automated, with 95% of cases handled without human intervention, resulting in doubled performance and a 4.8/5 customer satisfaction (CSAT) score [2].
The brainchild of Khalid Bin Bader Al Saud, Mohammad Al Zaben, and Mohammad Al Khalili, ClearGrid recently secured a total of $10 million in a dual funding round [1]. Additional investors include Aramco's Waed Ventures, KBW Ventures, Sharaka, 9yards Capital, Protagonist, BYLD, Eirad Holdings, Endeavor Catalyst, and Wamda Capital [1]. Notable angels also participated, such as former Y Combinator Continuity head Anu Hariharan, Marqeta's Jason Gardner, Replit's Amjad Masad, Twitch's Justin Kan, Kitopi's Mohammed Ballout, Barq's Ahmed Alenazi, and Unifoni's Ahmed Hamdan [1].
The funds will be used to develop AI and machine learning-powered collections systems, create a comprehensive SaaS platform for early risk detection and credit orchestration, and expand across MENA [1]. ClearGrid's immediate plans include expanding revenue in the UAE and entering the Saudi market in 2025 [1].
Omar Majdouie, Founding Partner at Raed Ventures, expressed support for ClearGrid's innovative approach to debt collection in the MENA region [1]. Khaled Talhouni, Founding Partner at Nuwa Capital, praised ClearGrid's founders for reinventing the debt resolution process with AI and automation [1].
ClearGrid's platform offers an AI-powered debt collection solution that automates the recovery process from borrower engagement to negotiations [1]. The company is part of a broader wave of AI adoption in the MENA fintech sector, with governments actively supporting digital transformation and AI initiatives.
As the fintech landscape in MENA continues to evolve, ClearGrid is poised to lead the charge in revolutionizing debt collection, aiming to transform traditional processes by automating workflows and enhancing personalization for financial institutions [2][3][4].
[1] TechCrunch. (2025, March 1). ClearGrid raises $10M to bring AI-powered debt collection to the MENA region. [online] Available at: https://techcrunch.com/2025/03/01/cleargrid-raises-10m-to-bring-ai-powered-debt-collection-to-the-mena-region/
[2] Zawya. (2025, March 1). ClearGrid raises $10 million to transform debt collection in MENA. [online] Available at: https://www.zawya.com/mena/en/story/ClearGrid_raises_10_million_to_transform_debt_collection_in_MENA-ZAWYA20250301143341/
[3] Gulf Business. (2025, March 1). ClearGrid raises $10 million to revolutionize debt collection in MENA. [online] Available at: https://gulfbusiness.com/cleargrid-raises-10-million-to-revolutionize-debt-collection-in-mena/
[4] Arabian Business. (2025, March 1). ClearGrid raises $10 million to transform debt collection in MENA. [online] Available at: https://www.arabianbusiness.com/finance/425788-cleargrid-raises-10-million-to-transform-debt-collection-in-mena
- ClearGrid's innovative AI-powered debt collection solution, part of the broader wave of technology adoption in the MENA fintech sector, aims to automate workflows and personalize financial services for traditional businesses in the region.
- The successful funding round of $10 million for ClearGrid included investments from notable venture capital firms like Aramco's Waed Ventures, KBW Ventures, Sharaka, 9yards Capital, Protagonist, BYLD, Eirad Holdings, Endeavor Catalyst, and Wamda Capital.
- With plans to expand in the UAE and enter Saudi Arabia in 2025, ClearGrid's AI and machine learning-powered collections systems will be used to create a SaaS platform for early risk detection and credit orchestration in the fintech industry.
