ClearGrid Secures $10M Funding to Revolutionize Debt Collection with Innovative AI-Powered FinTech Solutions

ClearGrid, a pioneering FinTech company specializing in AI-driven debt collection, has recently emerged from stealth mode, securing an impressive $10 million in funding aimed at transforming debt resolution practices in the MENA (Middle East and North Africa) region. This innovative platform seeks to address the inefficiencies commonly found in traditional debt collection methods by introducing a more humane, data-driven approach that benefits both lenders and borrowers.

Funding Details for ClearGrid

The $10 million funding was raised in two significant rounds. Here’s a breakdown of the funding sources:

• The pre-seed round was co-led by Raed Ventures and Beco Capital.
• The seed round saw co-leadership from Nuwa Capital and Raed Ventures.
• Additional institutional investors involved include Aramco’s Waed Ventures, KBW Ventures, Sharaka, and others.

Notable Angel Investors

ClearGrid also attracted investments from several prominent angel investors, including:

• Anu Hariharan (Avra)
• Jason Gardner (Marqeta)
• Bjorn Wagner (Parity Technologies)
• Amjad Masad (Replit)
• Justin Kan (Twitch)
• Vinay Menda (Blank Street)

ClearGrid’s Vision and Mission

Founded by Khalid Bin Bader Al Saud, Mohammad Al Zaben, and Mohammad Al Khalili, ClearGrid was established to tackle the critical challenges associated with debt collection. The founders recognized a significant information and coordination gap within the sector and aimed to leverage AI and automation to streamline the recovery process.

Transforming Debt Recovery

According to CEO Mohammad Al Zaben, “Collections should be an extension of good lending—not an afterthought. At ClearGrid, we’re reimagining debt resolution from the ground up, providing lenders with the insights and tools necessary to recover capital efficiently while fostering positive outcomes for borrowers.”

Comments from Leadership

Khalid Bin Bader Al Saud, chairman of ClearGrid KSA, emphasized the need for financial systems to evolve with the digital landscape: “Debt resolution should serve as a bridge to stability, not a hindrance. At ClearGrid, our aim is to redefine collections through a technology-first approach that builds trust, ensuring credit supports growth rather than distress.”

This initiative marks just the beginning of ClearGrid’s journey towards establishing the infrastructure necessary for a modernized debt resolution ecosystem in the MENA region.

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