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Stock impact report

ClearGrid, armed with a fresh $10M, is developing AI to improve debt collection in MENA [Yahoo! Finance]

Marqeta, Inc. - Class A (MQ) 
Company Research Source: Yahoo! Finance
As consumer lending surges and regulators push for fairer practices, legacy collection outfits are struggling to maintain pace. ClearGrid aims to help modernize debt collection — and recovery — with AI. The Dubai-based startup, which is emerging from stealth with $10 million in funding ($3.5 million pre-seed and $6.5 million seed), helps banks, fintechs, and lenders recover more debt without resorting to customer harassment. For a startup founded just in May 2023, the backing is significant. Co-founder and CEO Mohammad Al Zabe n called it a crucial advantage for a "very ambitious company with a big mission in a very big market." Al Zaben stumbled into the debt collection space after selling his previous startup, Munch:On, to Careem in Read more
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