Dubai-based debt collection startup ClearGrid, which just emerged out of stealth mode, raised USD 10 mn across two funding rounds: a pre-seed round co-led by Raed Ventures and Beco Capital, and a seed round co-led by Nuwa Capital and Raed Ventures, according to a press release. The funding will support the company’s expansion into Saudi Arabia and further development of its AI-powered platform, enhancing early risk detection, debt counseling, and credit orchestration.

About ClearGrid: Founded by Khalid Bin Bader Al Saud (LinkedIn), ex-co-founder of Munch:on Mohammad Al Zaben (LinkedIn), and Mohammad Al Khalili (LinkedIn), ClearGrid offers an AI-powered debt recovery platform that personalizes collection strategies based on borrower data.

Since its 2024 launch, ClearGrid has managed hundreds of mns in debt portfolios, secured over 10 major enterprise clients, and achieved profitability in the UAE within a year. The company claims that its clients have reported a 38% average increase in collection rates, with resolutions achieved twice as fast compared to traditional methods.

Other backers who participated in the funding include Aramco’s Waed Ventures, KBW Ventures, Sharaka, 9yards Capital, Protagonist, BYLD, Eirad Holdings, Endeavor Catalyst, and Wamda Capital, alongside notable angel investors.

Tags: