Egyptian FinTech Thndr Raises $15.7M to Revolutionize Digital Investing in MENA
Thndr, a leading digital investment platform based in Cairo, has successfully raised $15.7 million in funding to fuel its expansion throughout the Middle East and North Africa (MENA) region. This latest funding round was spearheaded by Prosus Ventures and included notable investors such as Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, Raba, and Onsi Sawiris, alongside a significant U.S. university endowment, as reported by Wamda.
Thndr’s Growth and Funding Journey
Since its inception in 2020 by co-founders Ahmad Hammouda and Seif Amr, Thndr has raised a total of $37.76 million. This funding will enable Thndr to enhance its operations in the UAE and pave the way for its entry into the lucrative Saudi Arabian market.
Investment Opportunities Offered by Thndr
Thndr provides users in the MENA region with a low-cost, mobile-first platform to invest in:
- Local and international stocks
- Mutual funds
- Bonds
- Other financial instruments
The company aims to replicate its success in Egypt by offering tailored investment products to underserved and first-time investors in the region.
Thndr’s Impact on Retail Investing in Egypt
Thndr has established itself as a dominant player in Egypt’s retail investing space, capturing an 11% share of the retail trading volume on the Egyptian Stock Exchange (EGX) in 2024, with a total trading value of $3.5 billion. Notably, Thndr has been instrumental in onboarding:
- 82% of new retail investors on the EGX
- Over 190,000 individuals in the past year
The platform has also seen a significant increase in female participation, which has risen from 3% to 12%, and is expanding access for users beyond major urban centers.
Support from Major Investors
Sandeep Bakshi, head of investments at Prosus Ventures, praised Thndr’s leadership, stating, “Hammouda and the Thndr team have demonstrated incredible execution over the past few years. We are thrilled to be doubling down on our investment in the company.”
Thndr’s Vision for the Future
According to CEO Ahmad Hammouda, “Our mission is to provide access to local, regional, and international investment products through one wallet and one account. We aim to make investing as seamless and inclusive as possible.” He emphasized the potential for growth in a region where only 2% of individuals currently invest, indicating that the time is ripe for building the region’s leading investment-first money app.
For more insights on investment opportunities in MENA, explore our investment resources.
