Thndr, a digital investment platform based in Cairo, has successfully raised $15.7 million in a recent funding round. Prosus Ventures led the investment, with contributions from Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, Raba, and Onsi Sawiris. This latest funding round brings Thndr’s total funding to an impressive $37.76 million. The capital raised will be utilized to support the platform’s expansion into the UAE and Saudi Arabia, as well as the development of new products tailored for both novice and experienced investors.
Thndr, a participant in Y Combinator’s Summer 2020 batch, is on a mission to democratize investing across the Middle East and North Africa (MENA) region. The platform offers commission-free trading without account minimums, allowing users to invest in a variety of assets such as stocks, bonds, mutual funds, and gold. In 2024, Thndr processed over $3.4 billion in trades and attracted more than one million new users, many of whom are first-time investors residing outside major urban centers.
Recently, Thndr introduced two new offerings to cater to different types of investors. Thndr Alpha is a guided investing platform designed for beginners, while ThndrX is a high-performance trading platform aimed at professional traders. Additionally, the company has applied for an asset management license in Egypt to offer proprietary investment products customized for local investors.
Thndr’s expansion into the UAE began in 2024 after securing a Category 3A license with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority. The platform is now gearing up to enter the Saudi Arabian market, with plans to replicate its success in Egypt by building trusted and locally relevant investment platforms.
Sandeep Bakshi, Head of Investments, Europe at Prosus Ventures, expressed his confidence in Thndr’s growth and impact, particularly among young and underserved populations in the MENA region. He emphasized the company’s leadership and broader mission of empowering first-time investors to participate in the financial system.
Overall, Thndr’s success in securing significant funding and expanding its reach across the region highlights its commitment to revolutionizing access to investing in the MENA region. With a focus on empowering investors of all levels of experience, Thndr is poised to continue making a significant impact in the financial landscape of the region.
Source: Techpoint Africa
