ClearGrid, a UAE-based fintech startup, announced the raising of $10 million across Pre-Seed and Seed rounds without disclosing the value of each round. The Pre-Seed round was led by RAED Ventures and BECO Capital, while the Seed round was led by RAED Ventures and Nuwa Capital. The rounds saw participation from Wa’ed Ventures, KBW Ventures, Sharaka, Eirad Holdings, Endeavor Catalyst, Wamda Capital, 9Yards Capital, Protagonist, BYLD, and angel investors.

More to Know:

• ClearGrid was founded by Khalid Bin Bader Al Saud, Mohammad Al Zaben, and Mohammad Al-Khalili in 2023.
• The startup provides an AI-powered platform for debt collection processes.
• It is currently developing a platform for early risk detection and credit orchestration, and unlocking new revenue streams through alternative risk assessments, AI-powered debt counseling, and debt consolidation.
• Launched in the UAE last year, it had been operating in stealth mode since its founding.
• It plans to expand into Saudi Arabia this year.

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