News Summary

ClearGrid, a Dubai-based startup, is transforming debt collection in the Middle East and North Africa (MENA) region with its AI-driven platform. Emerging from stealth with $10 million in funding, ClearGrid aims to modernize debt recovery processes by eliminating outdated and costly methods that damage borrower trust. Founded in May 2023 by Mohammed Al Zaben, Khalid Bin Bader Al Saud, and Mohammed Khalili, the company seeks to help banks, fintechs, and lenders recover more debt without resorting to harassment. ClearGrid’s platform automates 95% of its operations, using AI to score repayment likelihood, predict customer behavior, and personalize outreach. Since its launch in 2024, the startup has managed hundreds of millions in debt portfolios and signed ten major fintechs and banks in the UAE, achieving significant improvements in recovery rates and cost reductions. With plans to expand into Saudi Arabia and double its engineering team, ClearGrid is committed to building the definitive credit orchestration infrastructure for the region.