Egypt-based Thndr raises $15.7 million in funding round, now raised a total $37.76 million

Egypt-based investment platform, Thndr had raised $15.7 million in a funding round led by Prosus alongside support from Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, Raba, and Onsi Sawiris. The latest funding round brings the total capital raised by the Cairo-based Fintech to $37.76 million.

Thndr noted in its debut keynote event that the funding round, its second major investment round, will be deployed to support its regional expansion into the UAE and Saudi Arabia. Thndr is currently focused on deepening its operational presence in the UAE while simultaneously laying the groundwork for entry into Saudi Arabia.

The startup is deepening its mission to replicate its success in Egypt across the broader region by building locally relevant and trusted investment models.

Head of Investments, Europe at Prosus, Sandeep Bakshi, noted that Thndr had been transforming access to investing across MENA by empowering first-time investors with the tools and confidence to participate in the financial system. He explained that the platforms’ rapid growth, particularly among young and underserved populations, is a testament to both its leadership strength and broader mission to build a product that resonates deeply with a new generation, which is becoming increasingly important. 

“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… As early backers, we’re thrilled to support Thndr as they scale into Saudi Arabia and beyond.” Sandeep Bakshi added.

Also Read: Egypt’s proptech Nawy secures record $75 million in Series A funding to expand into MENA.

Thndr expanded its services to the UAE in 2024, shortly after acquiring a Category 3A licence with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). The investment platform also deepened its strong regulatory foundation by holding a license from the Financial Regulatory Authority (FRA) in Egypt in 2020. The brokerage license was the first new license issued by Egypt’s Financial Regulatory Authority since 2008.

Thndr’s resounding performance in the MENA region 

Founded in 2020 by Ahmad Hammouda (CEO) and Seif Amr (COO), 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.

Since its emergence, Thndr has been exploring investments to improve financial literacy across the Middle East and North African (MENA) region. While the platform provides seamless access to a range of investment instruments, including local and U.S. stocks, gold, and mutual funds, it also deploys savings products and helps millions take control of their financial futures.

Thndr’s mission has always been to provide access to local, regional, and international investment products through one wallet and account by making investing as seamless and inclusive as possible.

“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,” Ahmad Hammouda, CEO of Thndr said.

Recognised as a leading investment platform across MENA, Thndr solidified its position as Egypt’s leading retail brokerage on the Egyptian Stock Exchange (EGX) in 2024. In a significant performance, the platform achieved a total traded value of $3.5BN, accounting for 11 per cent of the retail traded value. The platform also served as the entry point for 82 per cent of all newly registered investors on the EGX, adding 190,100 new investors to the market. 

In addition, its gold mutual funds now account for 47 per cent of all assets under management. Along the gender gap drive, female participation on the platform increased from 3 per cent to 12 per cent, while 40 per cent of users now come from outside of major cities, further making a bold statement about its ability to reach underserved populations.

In one of its ambitions, Ahmad Hammouda said that Thndr wants to place wealth in the hands of everyday individuals.  

“With the rise of technology, and the foresight of a very supportive Financial Regulatory Authority, we can make this vision come to life — Egypt is expected to be the 7th largest economy by 2030 and has more than 100 million people, most of which are young and are looking for a convenient and digital way to invest their money.  That’s why we are excited to bring a new breed of young investors to the market,” he noted.

Thndr not only makes investment more accessible through removing commissions and account-opening minimums but also equips its users with a range of tools and the market knowledge necessary to navigate the Egyptian finance sector and ultimately achieve financial freedom.