Thndr, a Cairo-based digital investment platform, has raised US$15.7 million in new funding to support its regional expansion across the Middle East and North Africa.
The round was led by Prosus Ventures, with participation from Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, Raba, and Onsi Sawiris, as well as a major US university endowment.
This brings Thndr’s total funding to US$37.76 million since its founding in 2020.
Founded by Ahmad Hammouda and Seif Amr, Thndr allows users in the region to invest in local and international stocks, mutual funds, bonds, and other financial products through a mobile-based platform designed to lower barriers to entry.
With this new capital, the company plans to expand its presence in the United Arab Emirates and enter the Saudi Arabian market.
Thndr aims to introduce locally relevant investment products to attract first-time and underserved investors.
In Egypt, the platform has grown to represent 11% of retail trading volume on the Egyptian Stock Exchange (EGX) in 2024, with a traded value of US$3.5 billion.
It was the starting point for 82% of new retail investors on the EGX last year and onboarded more than 190,000 individuals.
Thndr also manages 47% of assets in local gold mutual funds.
Female participation on the platform increased from 3% to 12%, with greater uptake among users outside major cities.
Thndr CEO, Ahmad Hammouda said,
“Our mission is to provide access to local, regional, and international investment products through one wallet and one account, making investing as seamless and inclusive as possible. 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, a platform that helps people build wealth, make confident decisions, and live life on their own terms.”
Featured image credit: Edited by Fintech News Africa, based on image by ahmadezzat via Unsplash
