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AI-driven platform aims to improve debt resolution for both lenders and borrowers.
ClearGrid, one of the leading FinTech startup, has announced a significant $10 million funding to modernize the debt collection process across the MENA region. Utilizing artificial intelligence and automation, the startup company aims to tackle the inefficiencies in traditional debt-recovery methods, replacing strong tactics with data-driven, customer focused solutions that benefit both the borrowers as well as the lenders.
The company raised $10 million in two funding rounds. Raed Ventures and Beco, co-led the pre-seed round, followed by a seed round co-led by Nuwa Capital and Raed Ventures. Other investors include Aramco’s Waed Ventures, KBW Ventures, Sharaka, 9yards Capital, and several well-known angel investors such as Anu Hariharan of Avra and Jason Gardner of Marqeta.
To address an urgent need in the debt collection sector—the lack of data-driven platforms that could support both borrower and lender interaction—Mohammad Al Zaben, Khalid Bin Bader Al Saud, and Mohammad Al Khalili developed ClearGrid. The artificial intelligence-powered technology from ClearGrid analyzes massive data sets to automate processes and personalize communications, making debt collection easier for everyone.
CEO Mohammad Al Zaben expressed, “Collections should be an extension of good lending—not an afterthought. At ClearGrid, we’re reimagining debt resolution from the ground up, offering lenders the tools they need to recover capital effectively, while also improving outcomes for borrowers.”
ClearGrid's vision to shift the financial horizon towards technology-based debt resolution frameworks will revolutionize the financial sphere by integrating advanced debt resolution platforms. With its technology-driven system, ClearGrid does not just ensure greater financial trust in financial frameworks but is also helping establish a sound and efficient credit mechanism within the area.
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