ClearGrid, a UAE-based fintech specializing in debt collection solutions, has raised $10 million in pre-seed and seed funding rounds.
The pre-seed round was led by RAED Ventures and BECO Capital, while the seed round was led by Nuwa Capital and RAED Ventures.
The funding saw participation from institutional investors such as Wa’ed Ventures (affiliated with Saudi Aramco) and KBW Ventures, alongside angel investors including Amjad Masad (Replit), Ahmed Alenazi (Barq), Ahmed Hamdan (Unifonic), and Mohamad Ballout (Kitopi).
Founded in 2023 by Khalid Bin Bader Al Saud, Mohammad Al Zaben, and Mohammad Al-Khalili, ClearGrid offers an AI-powered platform that automates every step of the debt collection process, from borrower engagement to negotiations, helping lenders enhance customer experience and improve recovery rates.
Since its launch in 2024, ClearGrid has managed debt portfolios worth hundreds of millions of dollars and partnered with leading fintech companies and banks in the region.
The company plans to expand its operations in the UAE and enter the Saudi market by 2025.
