As the region’s $500 billion consumer lending market surges and consumer protection regulations tighten, traditional collection methods cannot deliver the reliable capital flows needed to maintain harmony in financial ecosystems. 

Today, ClearGrid is launching from stealth with $10 million in funding to build the first modern debt collection infrastructure for the digital age, turning what was once a liability into a competitive advantage that reinforces the financial foundation of the entire MENA region.

The funding comes across two rounds, with the pre-seed round co-led by Raed Ventures and Beco Capital, and the seed round co-led by Nuwa Capital and Raed Ventures. Additional institutional investors include Aramco’s Waed Ventures, KBW Ventures, Sharaka, 9yards Capital, Protagonist, BYLD, Eirad Holdings, Endeavor Catalyst, and Wamda Capital. The round also attracted marquee angel investors.

The company was founded by Khalid Bin Bader Al Saud, Mohammad Al Zaben, and Mohammad Al Khalili, who recognized that at its core, debt collection is fundamentally an information and coordination problem. 

After encountering these challenges firsthand in their careers, they set out to replace aggressive tactics with data-driven, compassionate solutions that work better for both sides of the equation – creating the equilibrium necessary for healthy economic growth.

Mohammad Al Zaben, co-founder & CEO of ClearGrid  said: “Collections should be an extension of good lending—not an afterthought. At ClearGrid, 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 offers an AI-powered collections platform that automates every step of the recovery process – from borrower engagement to negotiations – helping lenders scale while providing a better borrower experience. By combining AI, self-service tools, and omni-channel outreach, ClearGrid reduces resolution times and increases recovery rates.

Since its launch in 2024, ClearGrid has managed hundreds of millions in debt portfolios and secured partnerships with the largest fintech players in the Middle East and leading MENA banks. The company has signed over 10 major enterprise clients and built a robust pipeline for 2025, which includes expanding revenue in the UAE and entering the KSA market. 

Perhaps most impressive, ClearGrid has achieved profitability for its UAE operation within just a year of launch, though the company remains focused on scaling rather than profitability at this stage.

ClearGrid’s impact has been transformative. A major UAE bank doubled borrower engagement, leading to a 30% improvement in recovery rates. Leveraging ClearGrid’s AI-powered automation, a leading BNPL provider saw its early-stage debt resolution fully automated—with 95% of cases handled without human intervention—resulting in a doubling of performance and an outstanding 4.8/5 CSAT score. 

Beyond the numbers, borrowers who previously ignored traditional collection calls have started engaging when they feel their voice is heard and offered better options, like, principal waivers and flexible repayment plans. This improved borrower-lender dynamic builds economic confidence, reduces financial stress, and supports the stable credit markets that power economic development.

Co-Founder & Chairman of ClearGrid KSA, Khalid Bin Bader Al Saud, said: “Financial systems must evolve with the digital world. Debt resolution should be a bridge to stability, not a roadblock. At ClearGrid, we’re redefining collections with a data-driven, technology-first approach that strengthens trust, ensuring credit fuels growth not distress. This is just the first step in building the infrastructure for the future of debt resolution.” 

As digital lending accelerates across the MENA region, the need for efficient, technology-driven collections solutions grows. Lenders are seeking ways to improve borrower experiences and gain insights from data – a demand that ClearGrid is uniquely positioned to meet. 

While legacy collection agencies remain stuck in old models with manual outreach and poor borrower experiences, ClearGrid’s AI-driven approach is faster, smarter, and delivers a fundamentally better experience.

 Founding Partner at Raed Ventures, Omar Majdouie, said ClearGrid is tackling a critical pain point in the MENA debt collection industry with a truly innovative approach.

“Their AI-powered platform not only drives significant operational efficiencies for lenders but also fosters a more positive and sustainable relationship with borrowers. This balance is essential for the healthy growth of the region’s digital lending landscape, and we’re excited to support their mission to modernize collections and drive financial inclusion across the region.”

Khaled Talhouni, founding partner at Nuwa Capital, said:

“We invest in founders who see inefficiencies as opportunities for reinvention. Khalid, Mohammad, and Mohammed are doing exactly that with ClearGrid—turning debt resolution from a fragmented, outdated process into a unique commercial opportunity. By leveraging AI and automation, they are not just improving collections but fundamentally reshaping how lenders engage with borrowers, setting a new standard for the industry.”

Looking ahead, ClearGrid’s vision extends far beyond its current offerings to tackle wider challenges in the lending life cycle. The company plans to build cutting-edge collections systems leveraging AI and machine learning, develop a comprehensive enterprise platform for early risk detection and credit orchestration, and unlock new revenue streams through alternative risk assessments, AI-powered debt counseling, and debt consolidation. 

This ambitious roadmap positions ClearGrid not just as a collections solution, but as the foundation for a more transparent, efficient financial system across MENA and beyond.

List of angels in the round include Anu Hariharan (Avra), Jason Gardner (Marqeta), Bjorn Wagner (Parity Technologies), Amjad Masad (Replit), Vinay Menda (Blank Street), Justin Kan (Twitch), Mohammed Ballout (Kitopi), Sultan Olayan, Ahmed Alenazi (Barq), Ahmed Hamdan (Unifonic), and additional founders from the US and MENA. 

The latest investment, consisting of $8 million in equity and $1 million in debt, brings the company’s total Series A funding to $17 million.

The investment comes as Saudi Arabia’s construction industry undergoes rapid expansion, driven by multi-trillion-dollar infrastructure and real estate projects under the Vision 2030 plan. 

BRKZ, founded in 2023 by Ibrahim Manna, aims to tackle inefficiencies in the sector by offering a managed marketplace that simplifies procurement, reduces delays, and provides financing solutions.

Manna, who previously held a senior role at Uber-owned Careem, was inspired to start BRKZ after encountering procurement challenges when building his family home. “After Careem’s exit to Uber, I bought a family house in May 2020 and faced the inefficiencies of the construction supply chain—lack of visibility in material selection, uncertainty around the whereabouts of goods, and price volatility,” he explained. 

Recognising a gap in the market, he set out to create a platform that would simplify the procurement process for contractors and suppliers.

Since launching, BRKZ has expanded commendably. The platform now offers over 7,000 stock-keeping units (SKUs) and has grown its network to 1,100 suppliers, compared to 350 suppliers a year ago. 

Contractors using the platform can source essential materials such as cement, steel, and wood while benefiting from competitive pricing and financing options like buy-now-pay-later (BNPL).

The company has grown over the past year, with revenue quadrupling in 2024. More than 850 contractors and factories now use BRKZ, contributing to large-scale projects such as King Salman Park, Neom, and the Red Sea Project.

To meet growing demand, BRKZ has expanded its operations across over 40 cities in Saudi Arabia, increasing its request-for-quotation (RFQ) volume from $170 million in early 2024 to $350 million (SAR 1.3 billion) today. Manna revealed plans to extend the company’s reach to the Northern and Southern provinces, further strengthening its presence in the Saudi market.

Beyond procurement, BRKZ aims to offer a full-service construction space, covering financing, workforce supply, and equipment rental. The company currently generates revenue through transaction fees and financing services, but it plans to broaden its scope by working with developers and suppliers in addition to contractors.

One major area of expansion involves importing construction materials that are difficult to source locally. BRKZ intends to establish a trade corridor between China and Saudi Arabia, with plans to start importing materials from China this year, followed by India and Turkey. 

“We’re quite excited about building or enabling a corridor of trade between China and Saudi as we start importing goods we know our contractors, suppliers, and others would like to get from China. If materials are needed outside of Saudi, we’ll get them, white label these goods, and sell them to contractors, developers, and suppliers in Saudi. Our focus is to go deeper into Saudi Arabia,” Manna stated.

This change aligns with China’s growing economic ties with the Middle East and Saudi Arabia’s increasing reliance on imported materials for its massive construction projects.

The latest funding round saw participation from existing investors, including Aramco’s Waed, BECO Capital, Better Tomorrow Ventures, Class 5 Global, Fluent Ventures, Knollwood Investment Advisory, MISY Ventures, RZM Investment, and 9900 Capital. 

Dany Farha, co-founder and managing partner at BECO Capital, commended BRKZ’s impact on the industry. “The BRKZ team has executed its product and operational roadmap to drive efficiencies in this rapidly scaling sector, and we’re excited to continue supporting them in their next chapter. BRKZ’s financing product will complement their digitised procurement platform and address customer cash flow challenges,” he said.

Since its inception, BRKZ has raised $22.5 million, including pre-seed and seed rounds. The company’s valuation has risen by 46% in the past year, showing increasing market demand. 

With new capital in hand, BRKZ plans to strengthen its technology, enhance its financing solutions, and further expand its reach in Saudi Arabia’s construction sector.

BRKZ aims to streamline the procurement process for contractors and manufacturers in the MENA region.

The new investment will enable BRKZ to expand its platform across Saudi Arabia and the wider MENA region. The company plans to focus on facilitating same-day or next-day delivery of construction materials, while also venturing into equipment rentals and manpower sourcing.

“We’re looking to invest in several key areas to grow our platform,” said Manna, a former executive at Careem. “Our main focus for the upcoming year is to expand our in-house tech capabilities, double down on financing solutions, and ensure we have solid operations and supplier coverage in every city in KSA.”

BRKZ utilizes a unique approach that does not involve direct online purchasing. Instead, buyers generate and share Requests for Quotation (RFQs) through the company’s app or WhatsApp. This method allows for customization and negotiation, particularly relevant for bulk orders in the construction industry.

Since its launch, BRKZ has facilitated over $170 million in quotations across nearly 1,200 diverse products from more than 350 suppliers. With a stronghold in the MENA region, the company is well-positioned to drive further growth by expanding its reach and capitalizing on the significant construction market size in the area. 

Its continued efforts towards expanding in the region is helping BRKZ to become a key player in the construction industry, providing a reliable platform for suppliers and buyers in the MENA region.

“What’s fulfilling about digitizing a traditional sector is the amount of impact you can witness in a short period of time,” said Manna. “Our customers are saving a lot of time – what used to take days now takes minutes.”