Thndr Raises $15.7M to Expand Digital Investing Platform Across MENA
TLDR
- Cairo-based investment platform Thndr has secured $15.7 million in its latest funding round, led by Prosus Ventures
- The raise brings Thndr’s total funding to $37.76 million as it prepares for regional expansion into the UAE and Saudi Arabia
- The new capital will fund product development, licensing, and regional market entry as Thndr aims to become MENA’s leading “investment-first money app"
Cairo-based investment platform Thndr has secured $15.7 million in its latest funding round, led by Prosus Ventures with participation from Y Combinator, BECO Capital, JIMCO, Endeavor Catalyst, and Onsi Sawiris. The raise brings Thndr’s total funding to $37.76 million as it prepares for regional expansion into the UAE and Saudi Arabia.
Founded in 2020 by Ahmad Hammouda and Seif Amr, Thndr offers a mobile-first platform for investing in local and international stocks, mutual funds, and savings products. The app charges low commissions and targets underserved populations across the MENA region.
Thndr’s expansion strategy includes deepening operations in the UAE, where it holds a Category 3A license from the Abu Dhabi Global Market (ADGM), and launching in Saudi Arabia next. The new capital will fund product development, licensing, and regional market entry as Thndr aims to become MENA’s leading “investment-first money app.”
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Key Takeaways
Thndr has rapidly scaled in Egypt, becoming the country’s top retail brokerage on the Egyptian Stock Exchange (EGX) in 2024 with $3.5 billion in total traded value, representing 11% of retail activity. The platform added 190,000 new investors, accounting for 82% of EGX’s new investor base. Its customer base is increasingly diversified—40% live outside major cities and female participation has grown from 3% to 12%. In the gold mutual fund space, Thndr now manages 47% of all AUM in Egypt. The firm’s expansion comes amid rising demand for user-friendly digital investment platforms in a region where less than 2% of individuals invest. Thndr’s model—offering a unified wallet for local, regional, and international assets—aims to simplify investing for first-time users. With strong regulatory backing in Egypt and the UAE, and growing VC confidence, Thndr is positioning itself as a regional leader in wealth-building for a new generation of investors. The company sees Saudi Arabia, with its youthful population and growing retail investor base, as a key growth frontier.
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