ClearGrid Launches In The UAE With US$10 Million In Funding

ClearGrid, an artificial intelligence (AI)-powered debt collection platform aimed at improving recovery rates and borrower experiences across the MENA region, has emerged from stealth mode to launch in the UAE with US$10 million in funding.

The funding was raised in two rounds: a $3.5 million pre-seed round co-led by Saudi Arabia-based early-stage venture capital (VC) firm Raed Ventures and UAE-based VC firm BECO Capital, followed by a $6.5 million seed round co-led by Dubai-based VC Nuwa Capital and Raed Ventures again.

ClearGrid also had other investors from the region and beyond participating in the funding rounds, with the list including VC firms like Waed Ventures, KBW Ventures, Sharaka, 9yards Capital, Protagonist, BYLD, Eirad Holdings, Endeavor, and Wamda Capital, as well as angels like Anu Hariharan (Avra), Jason Gardner (Marqeta), Bjorn Wagner (Parity Technologies), Amjad Masad (Replit), Vinay Menda (Blank Street), Justin Kan (Twitch), Mohammed Ballout (Kitopi), Ahmed Alenazi (Barq), Ahmed Hamdan (Unifonic), Sultan Olayan, and others. 

Founded by Khalid Bin Bader Al Saud, Mohammad Al Zaben, and Mohammed Khalili, ClearGrid aims to replace traditional collection methods with a data-driven, borrower-friendly approach. The platform automates the entire recovery process by integrating AI, self-service tools, and omnichannel outreach to accelerate debt resolution and enhance borrower engagement. 

In an interview with Inc. Arabia, Al Zaben, co-founder and CEO of ClearGrid, said that the startup's funding milestone was a result of it addressing a pressing, but untapped, opportunity. "We showed investors a large, underserved market with a clear need for innovation," he explained. "The collections process in MENA hasn’t evolved much in decades, creating inefficiencies for both banks and borrowers. ClearGrid brings a technology-driven approach – leveraging automation and AI to improve recovery rates while offering borrowers more structured, transparent solutions. Investors saw a strong team, early traction, and a scalable model. More importantly, they saw a business that solves a real problem in a way that benefits all stakeholders."

A statement from ClearGrid noted that since its launch, it has managed hundreds of millions in debt portfolios, and secured partnerships with the largest fintech players in the Middle East as well as leading MENA banks. ClearGrid has already achieved profitability for its UAE operation within just a year of launch, with the company signing over 10 major enterprise clients, and it's also built a robust pipeline for 2025, which includes expanding revenue in the UAE and entering the KSA market. 

Looking to the future, Al Zaben said, "AI is set to make financial services more efficient, predictive, and personalized. Banks in MENA have vast amounts of data that, until now, have been underutilized. AI can transform how credit is assessed, making lending decisions faster and more precise. It will also enable proactive debt resolution – adapting repayment plans based on real-time borrower behavior, rather than rigid processes. Over time, we’ll see AI-driven financial services that feel more intuitive and tailored, reducing friction for both institutions and consumers."

According to Al Zaben, there are three key shifts are reshaping the financial landscape in the MENA region. One is regulatory momentum – he pointed out that regulators are pushing for more structured lending and consumer protection frameworks. "Lenders need to adopt compliance-ready, tech-driven solutions rather than relying on outdated processes," he added. He also pointed to evolving consumer credit behavior as being a factor. "Buy-now-pay-later (BNPL), micro-loans, and alternative financing options continue to grow rapidly, but repayment patterns are shifting," Al Zaben explained. "There are a lot of changes happening at the same time so lenders need smarter risk assessment models to navigate this."

Al Zaben also highlighted the rise of digital debt resolution as something to keep an eye on. "Borrowers expect flexible, self-service options rather than traditional call-center-driven collections," he said. "Lenders that integrate digital-first engagement will see better recovery rates and customer retention. In 2025, the winners will be those that embrace AI, automation, and customer-centric debt management. Those that don’t will struggle with higher defaults, customer churn, and rising regulatory pressure."

Pictured in the image is the ClearGrid team. Image courtesy ClearGrid.