ClearGrid Raises $10 Million to Modernise Debt Collection in MENA

ClearGrid, an AI-powered debt collection platform based in the UAE, has emerged from stealth with $10 million in funding to modernise debt recovery in the MENA region. The company was founded by Khalid Bin Bader Al Saud, Mohammad Al Zaben, and Mohammad Al Khalili, who aim to replace manual collection processes with data-driven automation to improve recovery rates and borrower engagement.

“Financial systems must evolve with the digital world. Debt resolution should be a bridge to stability, not a roadblock,” Co-Founder & Chairman of ClearGrid KSA, Khalid Bin Bader Al Saud, tells StartupScene. “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.”

The funding happened over two rounds. The pre-seed round was co-led by Raed Ventures and Beco Capital. The seed round meanwhile was co-led by Nuwa Capital and Raed Ventures. Additional institutional investors included Aramco's Waed Ventures, KBW Ventures, Sharaka, 9yards Capital, Protagonist, BYLD, Eirad Holdings, Endeavor Catalyst, and Wamda Capital. The round also attracted marquee angel investors.

“ClearGrid is tackling a critical pain point in the MENA debt collection industry with a truly innovative approach,” Omar Majdouie, Founding Partner at Raed Ventures, says. “Their AI-powered platform not only drives significant operational efficiencies for lenders but also fosters a more positive and sustainable relationship with borrowers. This balance is essential for the healthy growth of the region's digital lending landscape, and we're excited to support their mission to modernise collections and drive financial inclusion across the region.”

ClearGrid’s platform automates debt collection, integrating self-service tools, omnichannel communication, and machine learning to streamline borrower negotiations. The company has secured over 10 enterprise clients, including major fintech firms and banks across the region.

Since launching in 2024, ClearGrid has managed hundreds of millions in debt portfolios and achieved profitability in the UAE within a year. It has also recorded significant client outcomes, with a 30% increase in recovery rates for a UAE bank and 95% automation in early-stage debt resolution for a BNPL provider, leading to a 4.8/5 CSAT score.

The company plans to expand into Saudi Arabia in 2025 and develop additional services, including AI-powered credit risk assessment, early-stage debt counselling, and a credit orchestration platform.