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ClearGrid, a UAE-based fintech, has raised $10 million in funding, including a $3.5 million pre-seed round and a $6.5 million seed round, with participation from notable investors. Founded in 2023, the company offers an AI-powered platform for automating debt collection, achieving profitability in its first year and significant improvements in borrower engagement and recovery rates. With the new funding, ClearGrid plans to enhance its AI systems and expand into the Saudi market by 2025.
ClearGrid, a Dubai-based fintech startup, has secured $10 million in funding to revolutionize debt collection through AI, aiming to expand into Saudi Arabia. The platform automates debt recovery by categorizing borrowers and personalizing outreach, addressing inefficiencies in traditional methods. With strong investor backing, ClearGrid plans to scale operations, enhance its AI capabilities, and significantly increase revenue while ensuring ethical practices in debt collection.
ClearGrid has raised USD 10M to revolutionize debt collection in the Middle East through AI-driven automation. The Dubai-based startup's platform streamlines collections, personalizes borrower outreach, and automates operations, aiming to scale tenfold and expand into Saudi Arabia. With a focus on improving borrower experiences and regulatory compliance, ClearGrid plans to double its team and enhance its revenue model, which is based on a percentage fee from recovered amounts.
ClearGrid has launched with $10M in funding to modernize debt collection in the MENA region, addressing inefficiencies in a $500 billion consumer lending market. The AI-powered platform enhances borrower engagement and recovery rates, achieving profitability in the UAE within a year. Co-founders emphasize a compassionate, data-driven approach to transform collections into a bridge for financial stability.
Pfizer has expanded its collaboration with Flagship Pioneering by partnering with two more startups, Montai Therapeutics and Ampersand Biomedicines, to develop drug candidates for lung cancer and obesity, respectively. Under the existing alliance, Pfizer will fund R&D and has the option to license the programs. This initiative aims to help Pfizer discover up to 10 new drug candidates while providing financial support to Flagship"s startups during challenging funding conditions.
Jason Gardner
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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