Egypt's Thndr Launches into UAE Market with ADGM License
Thndr has garnered $22 million in funding from investors Tiger Global, BECO Capital, and Prosus Ventures.
Thndr, the mobile-first investment platform in the MENA region, has officially set foot in the United Arab Emirates (UAE).[1]
The entry into the UAE market was made possible by acquiring a Category 3A license with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). This license allows Thndr to offer a wide range of investment products, starting with direct access to US-listed securities such as stocks, Exchange Traded Funds (ETFs), and fractional shares, all with no minimum investment requirements.
In 2023, Thndr facilitated $1.8 billion in trades, capturing 8.5% of all retail transactions in the Egyptian market by April 2024 with over 3 million downloads and 500,000 active monthly users.
The company's affiliation with Hub71, Abu Dhabi's global tech ecosystem, further amplifies its expansion efforts.
Since its inception in 2020 by Ahmad Hammouda and Seif Amr, Thndr has offered a user-friendly app, educational resources, and a diverse investment selection.
The Thndr app is available for download on the Apple App Store and Google Play, offering users a convenient and accessible way to embark on their investment journey. As Egypt's first fully digital investment platform,
Thndr has secured the first brokerage license issued in Egypt since 2008.
Thndr has garnered $22 million in funding from renowned investors such as Tiger Global, BECO Capital, and Prosus Ventures.
In January 2024, Egypt's digital investing platform, Thndr Securities Brokerage was granted a research license to provide its clients with expert investment recommendations through its newly minted sister brand, Rumble.
Thndr CEO and co-founder Ahmad Hammouda told Inc. Arabia previously that “Investing is like working out,” adding that the key is consistency and diversification.