Lenders across emerging markets face a fast-growing pool of consumers who struggle to repay debts — yet most debt collection tools haven’t kept pace with modern technology or regulatory demands. ClearGrid aims to bring an AI-powered solution that not only boosts recovery rates but also improves borrower experiences, an especially pressing need as consumer protection regulations tighten and digital lending surges.
Driving the news:
- Dubai-based ClearGrid has raised $10 million across two rounds — led by Raed Ventures, Beco Capital, and Nuwa Capital, among others—to build what it calls “the modern debt collection infrastructure for the digital age.”
- The startup integrates AI into every step of the process, from borrower engagement to negotiations, promising lenders lower costs, higher collections, and faster resolution times.
What they’re saying:
- “Collections should be an extension of good lending — not an afterthought,” says co-founder and CEO Mohammad Al Zaben. “We’re reimagining debt resolution from the ground up, giving lenders the intelligence and tools they need to recover capital effectively while creating better outcomes for borrowers.”
- ClearGrid KSA co-founder and chairman Khalid Bin Bader Al Saud adds, “Debt resolution should be a bridge to stability, not a roadblock … This is just the first step in building the infrastructure for the future of debt resolution.”
- Raed Ventures founding partner Omar Majdouie says ClearGrid’s approach, “not only drives operational efficiencies for lenders but also fosters a more positive and sustainable relationship with borrowers.”
Between the lines:
Debt collection in many emerging markets has historically relied on outdated methods — sometimes even pen and paper — and scare tactics that damage borrower trust. ClearGrid replaces manual processes with AI-driven insights that assess each borrower’s likelihood of repayment and tailor follow-up strategies accordingly, working via voice agents, SMS, and online channels.
By the numbers:
- ClearGrid says it can cut collection costs by up to 50%, while boosting recovery rates by 30–50%.
- Its platform automates about 95% of collection activities.
- Already supporting over 130,000 borrower accounts monthly, ClearGrid aims to grow revenues 10x in 2024 and double its engineering team to support expansion, particularly in Saudi Arabia.
