ClearGrid, a Dubai, UAE-based supplier of an AI-powered debt assortment platform, raised $10M in funding.
The funding comes throughout two rounds:
- with the pre-seed spherical co-led by Raed Ventures and Beco Capital;
- and the seed spherical co-led by Nuwa Capital and Raed Ventures.
Extra traders included Aramco’s Waed Ventures, KBW Ventures, Sharaka, 9yards Capital, Protagonist, BYLD, Eirad Holdings, Endeavor Catalyst, and Wamda Capital.
The corporate intends to make use of the funds to increase operations and its growth efforts.
Based by Khalid Bin Bader Al Saud, Mohammad Al Zaben, and Mohammad Al Khalili, ClearGrid provides an AI-powered collections platform that automates the restoration course of, from borrower engagement to negotiations, serving to lenders scale whereas offering a greater borrower expertise. By combining AI, self-service instruments, and omni-channel outreach, it reduces decision occasions and will increase restoration charges.
Based in late 2023, the corporate operates from the UAE and is quickly increasing throughout the MENA area. Since its launch in 2024, ClearGrid has managed a whole bunch of thousands and thousands in debt portfolios and secured partnerships with the most important fintech gamers within the Center East and main MENA banks. The corporate has signed over 10 main enterprise shoppers and constructed its pipeline for 2025, which incorporates increasing income within the UAE and coming into the KSA market.
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