Egypt’s financial landscape is undergoing a profound transformation, driven by increasing smartphone penetration, technological advancements, and the rise of fintech.
Over the past five years, the country’s fintech sector has expanded substantially, with the number of fintech companies and payment service providers multiplying by a staggering 5.5-fold, according to Entlaq’s latest industry report, produced in collaboration with the Netherlands Enterprise Agency (RVO) and the Embassy of the Netherlands in Egypt.
Today, more than 170 ventures are active in the space, addressing financial inclusion by expanding the range of accessible, affordable and convenient financial services and products available to consumers and businesses.
A particularly dynamic area within this sector is digital wealth management and investment. This vertical encompasses businesses offering digital platforms that empower individuals to invest, grow their wealth, and manage their finances more efficiently.
Within this rapidly expanding segment, several players have emerged as leaders and innovators, gaining significant traction and showcasing remarkable growth. Today, we look at some of the most prominent digital wealth and investing apps in Egypt, shedding light on their unique value propositions and recent achievements.
Top digital wealth and investing apps from Egypt
Thndr
Thndr is a YC-backed investment platform launched in Egypt in 2019. Positioned as the Robinhood of the Middle East, the company aims to democratize investing across the region, providing customers with access to mutual funds, stocks, gold, savings options, and more.
Beyond offering investment opportunities, Thndr focuses heavily on financial empowerment through education and advisory services. It provides Thndr Learn, an educational platform that teaches users everything they need to know about money and investing; Thndr Claps, a daily financial newsletter delivering market insights; and Virtual Mode, a market simulation that allows users to practice investing risk-free.
For those seeking more in-depth guidance, Thndr offers Rumble, an advisory platform available for EGP 200 (US$3.95) per month, where users gain access to a dedicated Discord community for investment advice and discussions.
Thndr has grown rapidly over the past years, surpassing 3 million downloads and reaching 500,000 active monthly users. In 2023, the startup processed US$1.8 billion in trading volume, solidifying its position as a major player in the market. By April 2024, it accounted for 8.5% of all retail transactions in Egypt, underscoring its significant impact and growing dominance in the country’s investment landscape.
Thndr currently serves the Egyptian and United Arab Emirates (UAE) markets, but the startup plans to expand to other regional markets, including Saudi Arabia.
The startup has secured US$22 million in funding, and is backed by major investors like Tiger Global, BECO Capital, and Prosus Ventures.
Azinvest
Azinvest is a digital investment platform launched by Azimut Egypt, a subsidiary of the global asset management firm Azimut Group, providing individuals and institutions with seamless access to a wide range of investment funds, including money market funds, fixed income, equities, multi-currency investments, and even gold.
The platform is designed to simplify the investment process, allowing users to save, invest, and grow their wealth digitally, with funds managed by experienced professionals. It offers a complete digital onboarding experience, including e-KYC, e-identification, e-contracts, and e-registration, eliminating the need for physical presence or wet signatures. This provides an easy, accessible, and fully compliant way to invest in various asset classes.
Azinvear was developed through strategic collaborations with technology partners such as Optimatica, Lumin, CyberSource, El-Delta Trust, and Paytabs, ensuring convenient and security. Though the app was just launched in mid-2024, it has already surpassed 10,000 downloads on Google Play, positioning it as a rapidly emerging digital wealth player in Egypt.
Azimut Egypt is one of the first and largest asset management companies in Egypt with over EGP 17 billion (US$336 million) assets under management (AUM). Azimut Egypt is fully owned by Azimut Group, which is a leading independent asset manager from Italy that operates in 18 countries around the world and which manages around US$90 billion in different asset classes.
Bokra
Bokra is a rising player in the Egyptian wealth management space. Founded in 2023, the company provides a digital platform that provides goal-based investment and saving products through asset backed securities, helping individual investors and small to medium-sized enterprises (SMEs) save and invest across multiple asset classes.
Bokra’s technology-driven approach helps users manage and grow their wealth through customized investment portfolios. When users sign up to Bokra, they answer a comprehensive questionnaire, determining their appetite for risk, investment tenor, and monthly contribution amount. Based on their responses, they are matched with a portfolio that best aligns with their financial goals.
The Bokra app includes scenario playing, allowing users to measure the yields of their monthly contributions. Additionally, a built-in dashboard helps users systematically track and remain on top of their financial goals.
Bokra’s diverse investment portfolio spans real estate, precious metals, and debt instruments, as well as tailored financing solutions for fintech-driven startups. The company has also introduced a business portal that offers SMEs transparent investment and financing solutions, allowing them to track their financial progress seamlessly.
Despite being a young company, Bokra has quickly gained traction, surpassing 10,000 downloads on Google Play. In April 2024, the company raised US$4.6 million in a pre-seed funding round led by DisrupTech Ventures and SS Capital, among others, to expand its investment offerings and scale operations across the Middle East and North Africa (MENA).
Valu
Valu is a universal fintech powerhouse, offering a suite of financial services to individuals and businesses. Since its launch in 2017, Valu has pioneered the buy now, pay later (BNPL) model in MENA, providing customizable financing plans for up to 60 months across more than 6,000 points-of-sale (POSs) and over 1,500 online stores. These stores cover a diverse array of categories including home appliances, electronics, home finishing, furniture, residential solar solutions, healthcare, education, travel, and fashion, among others.
Valu also offers investment products, an instant cash redemption program, and savings solutions. Valu’s investment products include AZ Valu Fund, and EFG Hermes ONE.
AZ Valu Fund is a money market fund launched in 2023 in partnership with Azimut. The fund invests in a roster of secure, high-liquidity assets with short- and medium-term tenors, and is aimed at consumers looking for stable, low-risk returns. It compounds interest daily, giving clients access to daily redemptions without locking capital up in long-term, fixed instruments.
Meanwhile, EFG Hermes ONE is a trading platform designed for investors who want to trade stocks and other securities in regional and international markets. It features a user-friendly interface, real-time market data, as well as in-depth research and expert insights from EFG Holding’s research team.
EFG Hermes ONE is one of the most prominent stock trading apps in Egypt, boasting more than 100,000 downloads on Google Play.
EFG Hermes ONE and Valu are owned by EFG Holding, a major financial services conglomerate from Egypt.
Fawry
Founded in 2008, Fawry is one of the largest e-payment platforms in Egypt, serving the banked and unbanked population. Fawry’s primary services include enabling electronic bill payments, mobile top-ups, e-ticketing, cable TV, and more.
Through its peer-to-peer model, Fawry is enabling corporates and SMEs to accept electronic payments through a number of platforms including websites, mobile phones, and POSs. The company boasts a network of 36 member banks and more than 372 thousand agents. It processes over 6 million transactions per day, serving an estimated customer base of 53.1 million users monthly. This underscores its position as a leading fintech firm in Egypt.
In addition to payments, Fawry has expanded into digital investment solutions through Fawry Yawmy, an innovative fintech-based investment fund co-sponsored by both Misr Capital and Fawry.
Designed for individual investors, Fawry Yawmy offers a tax-free, variable daily return in Egyptian pounds, allowing users to invest through Fawry’s extensive network. Investors can start with amounts up to EGP 100,000 (US$1,980), with the option to invest more by providing proof of income. The fund ensures capital protection, easy cash withdrawals within 24 hours, and seamless investment access anytime, anywhere.
While Fawry is primarily known for digital payments, its investment offering Fawry Yawmy highlights the company’s growing interest in the sector, making it a key player to watch in the space.
Featured image credit: edited from freepik
