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Thndr, a Cairo-based digital investment platform, has raised US $15.7 million in a Series A round led by Prosus Ventures, with participation from BECO Capital, JIMCO Capital, Endeavor Catalyst, Y Combinator, a U.S. university endowment, and others .
Founded in 2020 by Ahmad Hammouda and Seif Amr, Thndr initially offered commission-free mobile-first trading for local and U.S. equities. Since then, it has expanded to include bonds, mutual funds, gold, and savings products—all within a single app licensed in both Egypt (FRA) and ADGM in Abu Dhabi.
Expansion Roadmap: Thndr will deploy the new capital to deepen market presence in the UAE and enter Saudi Arabia, leveraging its ADGM licence and existing traction in the UAE.
The company is introducing new Offerings: Thndr Alpha: A guided investing experience helping first-time users build goal-oriented portfolios, and ThndrX: A high-performance trading platform tailored to experienced users.
Thndr is applying for an asset management licence in Egypt to create proprietary investment products.
In 2024, Thndr facilitated over $3.4 billion in trades and added around 190,000 new investors—representing 82%of the total new investor registrations on the Egyptian Stock Exchange.
The platform now captures 11% of Egypt’s retail trading volume and holds 47% market share in gold-focused mutual funds. Female investor participation on the platform has grown substantially, rising from 3% to 12%, and 40% of users are based outside major urban centers—highlighting its reach into underserved demographics.
Sandeep Bakshi, Head of Europe Investments at Prosus, said:
“Thndr is transforming access to investing across MENA by empowering first‑time investors … Their rapid growth, particularly among young and underserved populations, underscores both the strength of their leadership and the company’s broader mission”.
Ahmad Hammouda, Thndr’s CEO, added:
“Our mission is to provide access to local, regional, and international investment products through one wallet and one account… 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”.
Less than 2% of MENA’s population participates in investing—Thndr is disrupting this with accessible, intuitive tools. With licenses in Egypt and the UAE and plans for asset management approval, Thndr is building a compliant, scalable regional platform. By catering to both novice and professional investors with products like Thndr Alpha and ThndrX, it addresses a broad market spectrum.
Armed with $15.7 million, Thndr is poised to deepen its UAE footprint, launch in Saudi Arabia, and evolve into a holistic wealth platform offering brokerage services, proprietary investment products, and targeted guidance—all with the mission of redefining retail investing across MENA.
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