Cairo-based investment platform Thndr announced a $15.7 million funding round led by Prosus Ventures, with additional support from Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, Raba, and Onsi Sawiris. This latest investment brings Thndr’s total capital raised to $37.76 million since its 2020 founding by Ahmad Hammouda and Seif Amr.
Thndr is a mobile-first digital investment platform enabling users across the Middle East and North Africa (MENA) to invest in stocks, bonds, mutual funds, and savings products with low commissions and seamless user experience. The platform aims to democratize investing and enhance financial literacy, particularly among underserved populations.
The new funds will primarily support Thndr’s regional growth ambitions, focusing on deepening operations in the UAE and preparing for entry into Saudi Arabia—both strategic priority markets. Last year, Thndr expanded into the UAE following its acquisition of a Category 3A license with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA).
Thndr has achieved remarkable traction in Egypt, solidifying its position as the leading retail brokerage on the Egyptian Stock Exchange (EGX) in 2024. The platform facilitated $3.5 billion in traded value, representing 11% of retail trades, and onboarded 82% of all new investors on EGX, adding over 190,000 first-time investors. Thndr also commands 47% of assets under management in gold mutual funds. Notably, female investor participation rose from 3% to 12%, while 40% of users are from outside major cities, demonstrating success in reaching traditionally underserved demographics.
Sandeep Bakshi, Head of Investments, Europe at Prosus, praised Thndr’s execution and mission: “Thndr is transforming access to investing across MENA by empowering first-time investors with the tools and confidence to participate in the financial system… Their rapid growth, especially among young and underserved populations, underscores their leadership strength and mission. We are excited to support Thndr as they scale into Saudi Arabia and beyond.”
Thndr CEO Ahmad Hammouda stated, “With only 2% of individuals in MENA investing, 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.”
Thndr operates under strong regulatory frameworks with licenses from Egypt’s Financial Regulatory Authority (FRA) and the ADGM FSRA in the UAE.
