In a region where debt has long been stigmatized, a new Dubai-based startup is transforming how it’s perceived—and collected. Meet ClearGrid, the AI-powered debt resolution platform that’s taking a more modern, tech-driven, and human approach to helping borrowers get back on track. Today, the company announced it has raised $10 million in a combined pre-seed and seed round, signaling strong investor confidence in its mission to fix what many consider a broken system.
Co-founded by Mohammad Al Zaben, Mohammed AlKhalili, and Khalid Bin Bader Al Saud, ClearGrid was born out of a growing issue in the region’s financial sector. With the Middle Eastern consumer lending market now worth over $500 billion, the rise of buy-now-pay-later (BNPL) schemes and other fintech services has led to an inevitable increase in repayment struggles. Traditional debt collection methods—often outdated, aggressive, and inefficient—aren’t cutting it anymore, especially under increasing scrutiny from consumer protection regulators.
ClearGrid’s platform offers a smarter alternative. Using artificial intelligence and machine learning, the system evaluates each individual borrower’s situation by analyzing their data and determining the most effective repayment strategy. Instead of threatening calls, borrowers receive customized repayment plans—maybe more flexible terms for someone who’s recently lost their job or reduced interest for a financially struggling family. The system manages outreach and communication on the lender’s behalf, creating a personalized experience at scale.
“We’ve built a digital debt resolution platform that gives lenders the tools they need to recover capital effectively while creating better outcomes for borrowers,” explains CEO Al Zaben. “Ironically, our use of AI enables us to take a much more human approach to debt collection, with each customer treated as an individual. We can be an ally to help people get out of debt.”
Since launching in January 2024, ClearGrid has already signed 10 enterprise lenders and several fintech firms. Early results are promising: an average 38% increase in collection rates and resolutions happening twice as fast compared to traditional methods. On top of that, users report higher satisfaction thanks to the platform’s empathetic, non-invasive communication style.
The $10 million in funding comes from notable investors including Raed Ventures, Nuwa Capital, Aramco’s Waed Ventures, KBW Ventures, Sharaka, 9yards Capital, Protagonist, and others, with support from multiple angel investors. ClearGrid plans to use the funds to double its engineering team and expand into Saudi Arabia, where the lending market is poised for even more rapid growth.
“ClearGrid is tackling a critical pain point in the debt collection industry,” said Omar Majdouie, founding partner of Raed Ventures. “Its AI-powered platform not only drives significant operational efficiencies for lenders but also fosters a more positive and sustainable relationship with borrowers.” Khaled Talhoun of Nuwa Capital echoed that sentiment: “ClearGrid is turning debt resolution from a fragmented, outdated process into a unique commercial opportunity.”
By blending innovation with empathy, ClearGrid is setting a new standard for debt collection in the digital age—one that’s not only smarter, but fairer.
