ClearGrid Secures $10M to Revolutionize AI-Driven Debt Collection in MENA
ClearGrid raises $10M to transform debt collection in MENA with AI, boosting recovery rates and borrower trust.
Matilda
ClearGrid Secures $10M to Revolutionize AI-Driven Debt Collection in MENA
Debt collection in emerging markets often feels outdated and can be costly — damaging borrower trust. As consumer lending surges and regulators push for fairer practices, legacy collection outfits are struggling to maintain pace. Image:ClearGrid ClearGrid aims to help modernize debt collection — and recovery — with AI. The Dubai-based startup, which is emerging from stealth with $10 million in funding ($3.5 million pre-seed and $6.5 million seed), helps banks, fintechs, and lenders recover more debt without resorting to customer harassment. For a startup founded just in May 2023, the backing is significant. Co-founder and CEO Mohammad Al Zaben called it a crucial advantage for a “very ambitious company with a big mission in a very big market.” Al Zaben stumbled into the debt collection space after selling his previous startup, Munch:On, to Careem in 2022. While taking time off following the exit, Al Zaben says he reflected on one of Munch:On’s biggest challenges: collecting payments from…
