Dubai-based startup ClearGrid is redefining debt collection in emerging markets with AI-powered solutions aimed at improving efficiency and borrower trust. With $10 million in funding—$3.5 million in pre-seed and $6.5 million in seed rounds—the company is helping banks, fintech firms, and lenders recover debts without relying on aggressive tactics.
Founded in May 2023 by Mohammad Al Zaben, Khalid Bin Bader Al Saud, and Mohammed AlKhalili, ClearGrid seeks to modernize an industry still dominated by outdated practices. Al Zaben, who previously sold his startup Munch: On to Careem in 2022, was inspired by his experience managing corporate payments and noticing inefficiencies in debt recovery.
Many traditional collection agencies still use outdated systems or basic CRM tools, relying heavily on manual outreach and intimidation tactics. With consumer lending expanding rapidly and regulators in Saudi Arabia and the UAE pushing for ethical collection methods, ClearGrid sees an opportunity for AI-driven reform.
The company’s technology enables lenders to recover outstanding debts more effectively while maintaining positive borrower relationships. As buy now, pay later (BNPL) services and unsecured lending grow in the Middle East, ClearGrid aims to provide a scalable, regulatory-compliant solution for modern debt resolution.
With lending volumes rising and AI reshaping industries, the startup’s latest funding round marks a crucial step in building a more advanced and ethical debt collection infrastructure.
