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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.
PlaysOut, a UAE-based gametech startup, has raised $7 million to enhance its mini-game ecosystem, while ORO Labs secured $1.5 million for its tokenized gold trading platform. MENA Analytics and Juridoc.tn are expanding their services with new funding, and Grinta is pivoting to healthcare after acquiring Citi Clinic. In Egypt, Fawry and Contact Financial are partnering to improve BNPL services, and Yango Group launched a $20 million venture fund to support startups in high-growth regions. Meanwhile, Tabuk is emerging as a dynamic investment hub in Saudi Arabia, with significant opportunities in tourism, agriculture, and renewable energy.
Dubai-based AI collections platform ClearGrid has launched with $10 million in funding to enhance debt collection in the MENA region. The company, founded by Khalid Bin Bader Al Saud, Mohammad Al Zaben, and Mohammad Al Khalili, aims to modernize the $500 billion consumer lending market by automating the recovery process, improving resolution times and recovery rates. The funding was secured through pre-seed and seed rounds, with contributions from various investors, including Raed Ventures and Beco Capital.
Mohammad Al Khalili
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
cleargrid secures 10 million funding to enhance ai debt collection platform
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