Latest news with #Thndr
Zawya
20-05-2025
- Business
- Zawya
Empowering millions: $15.7mln raise sets the stage for accelerated GCC growth
Dubai, UAE — Thndr, the leading retail investment platform in the MENA region, announced during its debut keynote event, its second major investment round, raising an additional $15.7 million, bringing its total current capital to $37.76 million. The round was led by Prosus Ventures, with participation from The Rabacap Partnership, BECO Capital, JIMCO Capital, Endeavor Catalyst, Y Combinator, and a prominent U.S. university endowment, among other new global investors. These funds will now be strategically deployed to support Thndr's regional expansion — with both the UAE and Saudi Arabia as key priority markets. Thndr is currently focused on deepening its operational presence in the UAE, while simultaneously laying the groundwork for entry into Saudi Arabia. The goal is to replicate its success in Egypt across the broader region by building locally relevant, trusted investment platforms. Since inception, Thndr has been on a mission to democratize investing and improve financial literacy across MENA. The platform provides seamless access to a range of investment instruments including local and U.S. stocks, gold, mutual funds, and savings products, helping millions take control of their financial futures. In 2024, Thndr solidified its position as Egypt's leading retail brokerage on the Egyptian Stock Exchange (EGX), achieving a total traded value of $3.5BN, accounting for 11% of the retail traded value. The platform served as the entry point for 82% of all newly registered investors on the EGX, adding 190.1K new investors to the market. In gold mutual funds, Thndr now accounts for 47% of all assets under management. Notably, female participation on the platform increased from 3% to 12%, and 40% of users now come from outside of major cities—marking a clear success in reaching underserved populations. Speaking about the investment, Sandeep Bakshi, Head of Investments, Europe at Prosus, said, 'Hammouda and the Thndr team have demonstrated incredible execution over the past few years, and we are thrilled to be doubling down on our investment in the company. Thndr is transforming access to investing across MENA by empowering first-time investors with the tools and confidence to participate in the financial system—building a product that resonates deeply with a new generation and is becoming increasingly important. Their rapid growth, particularly among young and underserved populations, underscores both the strength of their leadership and the company's broader mission. As early backers, we're thrilled to support Thndr as they scale into Saudi Arabia and beyond.' 'Our mission is to provide access to local, regional, and international investment products through one wallet and one account—making investing as seamless and inclusive as possible,' said Ahmad Hammouda, CEO of Thndr. 'With only 2% of individuals in MENA investing, we believe the time is now to build the region's leading investment-first money app—a platform that helps people build wealth, make confident decisions, and live life on their own terms.' Hisham Jazzar, Saudi General Manager shared 'Returning from Silicon Valley to Riyadh, I was driven by a desire to channel my experience into value-driven solutions for my country. Saudi Arabia's financial literacy gap is a significant challenge, and traditional approaches have fallen short. Thndr's innovative, tech-driven model offers a scalable solution that aligns with the scale of the national problem. I'm thrilled to join a team committed to breaking down barriers to investing and empowering Saudis to actively participate in our nation's economic transformation.' Thndr has already built a strong regulatory foundation, holding a license from the Financial Regulatory Authority (FRA) in Egypt and a Category 3A license with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). *Thndr was advised by VCL as its legal counsel throughout the fundraising process. About Thndr Thndr is one of MENA's first fully digital investment platforms, simplifying and democratizing investing for over 4 million users. The platform empowers investors through access to Egyptian and U.S. stocks, gold, mutual funds, and savings products. Founded in 2020 by Ahmad Hammouda and Seif Amr, Thndr secured the first brokerage license issued in Egypt since 2008 and currently holds regulatory licenses from both the FRA (Egypt) and ADGM (UAE). To date, Thndr has raised a total of $37.76 million from global venture capital firms, including Tiger Global, Rabacap, Prosus Ventures, BECO Capital, and Y Combinator. For more information, visit The Thndr app is available on the Apple App Store and Google Play. For media inquiries, please contact: [Salma Shahin] | [salma@
Fintech News ME
20-05-2025
- Business
- Fintech News ME
Egypt's Thndr Raises $15.7M to Expand Investment Platform in MENA
Thndr, a Cairo-based digital investment platform, has raised US$15.7 million in new funding to support its regional expansion across the Middle East and North Africa. The round was led by Prosus Ventures, with participation from Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, Raba, and Onsi Sawiris, as well as a major US university endowment. This brings Thndr's total funding to US$37.76 million since its founding in 2020. Founded by Ahmad Hammouda and Seif Amr, Thndr allows users in the region to invest in local and international stocks, mutual funds, bonds, and other financial products through a mobile-based platform designed to lower barriers to entry. With this new capital, the company plans to expand its presence in the United Arab Emirates and enter the Saudi Arabian market. Thndr aims to introduce locally relevant investment products to attract first-time and underserved investors. In Egypt, the platform has grown to represent 11% of retail trading volume on the Egyptian Stock Exchange (EGX) in 2024, with a traded value of US$3.5 billion. It was the starting point for 82% of new retail investors on the EGX last year and onboarded more than 190,000 individuals. Thndr also manages 47% of assets in local gold mutual funds. Female participation on the platform increased from 3% to 12%, with greater uptake among users outside major cities. Thndr CEO, Ahmad Hammouda said, 'Our mission is to provide access to local, regional, and international investment products through one wallet and one account, making investing as seamless and inclusive as possible. With only 2 percent of individuals in MENA investing, we believe the time is now to build the region's leading investment-first money app, a platform that helps people build wealth, make confident decisions, and live life on their own terms.'
Wamda
19-05-2025
- Business
- Wamda
Egypt's Thndr raises $15.7 million to expand digital investment offerings
Thndr, the Cairo-based investment platform, announced a $15.7 million funding round led by Prosus, with support from Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, Raba, and Onsi Sawiris, bringing total capital raised to $37.76 million. Founded in 2020 by Ahmad Hammouda and Seif Amr, Thndr is a digital investment platform that allows its users to invest in stocks, bonds, and funds in the Middle East through its mobile-based and low-commission digital stock brokerage. The fresh capital will support product expansion and regulatory growth, positioning Thndr to deepen its user base and service offering. Last year, Thndr expanded its services to the UAE after acquiring a Category 3A licence with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). Press release: Egyptian investment platform Thndr has announced a $15.7 million funding round and launched two new products — Thndr Alpha and ThndrX — at Egypt's first fintech keynote, marking a major leap toward becoming a full-spectrum financial institution. The event, titled 'El Qessa Betkabr' (Arabic for 'The Story is Growing'), gathered over 300 users, investors, and partners at the historic Cairo Marriott and set a new benchmark for fintech innovation in the MENA region. The new funding round was led by global tech investor Prosus, with participation from Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, Raba, and Onsi Sawiris. The round brings Thndr's total funding to $37.76 million, underscoring strong investor confidence in the platform's vision and growth trajectory. At the keynote, Thndr unveiled: Thndr Alpha: A guided investing experience tailored to first-time investors, featuring portfolios aligned with individual goals, risk appetite, and a mix of local and global asset classes, including stocks, gold, and fixed income. ThndrX: A pro-grade desktop platform built for serious traders, with a focus on speed, precision, and performance. In parallel, Thndr announced it is in the process of acquiring an asset management licence in Egypt, a move that would allow it to launch and manage its own financial products — locally designed for regional investors, without relying on repackaged or foreign-built instruments. 'Thndr is no longer just giving people access to the market — we're helping them build long-term wealth, guided by intelligence and powered by local relevance,' said Ahmad Hammouda, co-founder and CEO of Thndr. 'This is the next chapter for fintech in the region.'
CairoScene
17-05-2025
- Business
- CairoScene
Thndr Unveils Major Product Lineup at Egypt's First Fintech Keynote
Thndr's debut keynote unveiled its boldest moves yet: a $15.7M raise, a trading platform designed by traders, and a guided investing product to support the region's next wave of investors. Sergio Zorayan, Product Manager at Thndr; Ahmad Hammouda, Co-founder and CEO of Thndr; Abdelrahman Azzam, Chief of Staff at Thndr; Youssef Maged, Engineering Manager at Thndr In a dimly lit auditorium in Cairo, under the banner 'El Qessa Betkabr' - The Story is Growing - Egypt's leading investment platform did something no fintech in the country has done before: it threw a product keynote. Not a press event. Not a demo day. A full-scale, founder-led, Silicon-Valley-style keynote. The kind of high-gloss rollout you'd expect from Apple, Canva, or Airbnb. Except this wasn't Cupertino or San Francisco. This was the Cairo Marriott, in Zamalek, an island on the Nile in the heart of the city - and it marked a watershed moment for MENA's maturing fintech ecosystem. More than 300 Thndr users, partners, and investors packed the space. And they weren't just there for a product drop. They were there for what Thndr - and this moment - represented. 'We started Thndr with a big dream,' CEO and Co-founder Ahmad Hammouda told the crowd. 'This region, this country can build extraordinary things.' They've come a long way. From a small team securing Egypt's first new brokerage license in over a decade, to a 4 million+ user platform now aiming to become the region's most impactful financial institution. This keynote wasn't just a showcase. It was a stake in the ground, a declaration that local fintech is growing up, and Thndr wants to lead the charge. A Platform That Grows With You The first announcement of the night was Thndr Alpha, a guided investing tool built to serve what Hammouda calls 'the 80%' - the majority of users who are investing for the first time. Alpha is designed to simplify that intimidating first step: from goal setting to risk comfort, to personalised starter portfolios made up of equities, gold, and fixed income. 'It's not just another feature,' Hammouda said. 'It's the foundation for something much bigger.' Alpha is launching in phases, but the long game is clear: a fully guided, personalised investment journey - not just access, but clarity and confidence, built around each user's needs. This evolution from democratising access to delivering tailored financial experiences is no accident. It reflects something larger: a shift in what the region's retail investors are ready for - and what they now expect. From Brokerage to Institution The second reveal took things further up the value chain. Thndr announced that it has formally applied for an asset management license in Egypt - a move that positions the company to begin building and managing its own investment products. 'We're not just building an app,' said Chief of Staff Abdelrahman Azzam. 'We're building a full-fledged financial institution.' In other words: Thndr doesn't just want to give users tools. It wants to be the institution behind those tools, creating vehicles designed from the ground up for Egypt's fast-emerging investor class. It's a bet on vertical integration and on long-term relevance. ThndrX: Built by a Trader, Not Just for Traders The keynote's hero moment came with the reveal of ThndrX, a pro-grade trading platform, desktop-first, engineered for serious traders. But what made the reveal hit harder was who presented it: Sergio Zorayan, a former prop trader turned Thndr product manager, whose own experiences shaped the platform from the inside out. 'I couldn't find the basics,' he said. 'No solid platforms. No real tools. Nothing built for real traders. So we built the platform we always wished existed.' ThndrX is unapologetically performance-driven. It's fast. Precise. Built around what traders actually need - not what brokerage platforms think they want. 'Not to make you trade more,' Zorayan said. 'But to help you make more money.' Youssef Maged, Thndr's very first engineer, is now leading ThndrX's tech build. 'Traders are a different breed,' he said. 'Milliseconds matter.' It's a stark contrast to the noise of many trading apps - platforms that gamify volatility instead of building real tools. ThndrX wants to flip that script. The Money Behind the Mission To close the keynote, Hammouda revealed Thndr's latest raise: $15.7 million in new capital, led by Prosus, one of the largest tech investors in the world (and backers of the likes of Delivery Hero and Tencent). Also in the round: Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, Raba, and the endowment fund of the world's top engineering university. Egyptian investor Onsi Sawiris also joined. 'This isn't just money,' Hammouda said. 'This is a message - that our mission matters.' The new funding brings Thndr's total capital raised to $37.76 million - serious firepower as it expands products and deepens its regional footprint. A Bigger Story, and a Region Ready to Hear It For all the product reveals and funding headlines, the keynote's real story was this: the region's retail investment culture is maturing. And so is its infrastructure. We're watching a shift from 'let's get people to invest' to 'let's help them invest well.' From platforms that are feature-rich to platforms that are user-smart. From copycat fintech to homegrown innovation. And Thndr - with its blend of swagger, substance, and local soul - is proving that the next wave of fintech leadership might not come from the usual places. 'The story is growing,' Hammouda told the crowd as the lights dimmed. 'And we're just getting started.'
CairoScene
19-03-2025
- Business
- CairoScene
Egypt's FRA Grants Fintechs Licences for Digital Stock Brokerage
Telda, Beltone and Thndr receive approval to digitise brokerage operations, enhancing accessibility to Egypt's stock market. Mar 19, 2025 Egypt's Financial Regulatory Authority (FRA) has granted licences to three fintech startups—Telda, Beltone and Thndr—to operate as stock brokerage firms utilising comprehensive financial technology solutions. This approval enables these companies to fully digitise their brokerage activities, including electronic verification, digital customer onboarding, electronic contract execution, and digital record-keeping. Telda and Beltone will collaborate with Vlens, a registered outsourcing provider, to facilitate these processes, while Thndr will partner with Valify Solutions for verification and onboarding, managing other digital operations internally. The FRA's decision aligns with its broader strategy to modernise and digitise non-banking financial services, following the enactment of Law No. 5 of 2022, which promotes the integration of fintech in the sector. By allowing brokerage firms to adopt these technologies, the FRA aims to simplify stock market participation, enabling investors to open accounts and trade entirely online without the need for physical branch visits or paper documentation. This initiative is expected to reduce transaction costs and processing times, enhance accessibility for younger and financially underserved populations, and improve the speed and accuracy of financial transactions. Overall, it aims to bolster confidence in Egypt's non-banking financial sector and support market efficiency.
