ClearGrid has secured $10 million in funding to modernise debt collection in the MENA region, a sector burdened by outdated, manual processes and aggressive tactics that lead to substantial financial losses for lenders.
As consumer lending grows and regulations tighten, the demand for modern solutions increases.
ClearGrid aims to address the fragmented and inefficient debt collection practices prevalent in the MENA region.
The company has secured funding to deploy an AI-powered platform that automates debt recovery, improves borrower engagement, and increases recovery rates for lenders.
Founded by Khalid Bin Bader Al Saud, Mohammad Al Zaben, and Mohammad Al Khalili, ClearGrid has established partnerships with major fintech and banking institutions, achieving profitability in its UAE operations within one year.
The company’s future plans include building comprehensive credit systems and developing new risk assessment tools.
