Thndr raises $15.7m to expand investment access in MENA, targets UAE and Saudi Arabia

The news: 

• Thndr raised $15.7 cardinal successful a circular led by Prosus Ventures, bringing full backing to $37.76 million.
• The institution plans to grow its services into the UAE and Saudi Arabia.
• New products see Thndr Alpha for beginners and ThndrX for nonrecreational traders. Meanwhile, Thndr is applying for an plus absorption licence successful Egypt to connection proprietary fiscal products.

Thndr, a Cairo-based integer concern platform, has secured $15.7 cardinal successful a backing circular led by Prosus Ventures, with information from Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, Raba, and Onsi Sawiris.

This brings Thndr’s full superior raised to $37.76 million. The funds volition enactment its determination expansion into the UAE and Saudi Arabia and the improvement of caller products aimed astatine novice and experienced investors.

The startup, portion of Y Combinator’s Summer 2020 batch, aims to democratise investing successful the Middle East and North Africa (MENA) region. The level offers commission-free trading with nary relationship minimums, allowing users to put successful stocks, bonds, communal funds, and gold. In 2024, Thndr facilitated implicit $3.4 cardinal successful trades and added implicit 1 cardinal users, galore of whom are first-time investors from extracurricular large cities.

Thndr precocious unveiled 2 caller products: Thndr Alpha — a guided investing level for beginners — and ThndrX — a high-performance trading level for professionals. The institution besides announced its exertion for an plus absorption licence successful Egypt, aiming to connection proprietary concern products tailored to section investors.

Thndr’s expansion into the UAE began successful 2024 aft acquiring a Category 3A licence with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority. The institution is present preparing to participate the Saudi Arabian market, seeking to replicate its occurrence successful Egypt by gathering locally applicable and trusted concern platforms.

“Thndr is transforming entree to investing crossed MENA by empowering first-time investors with the tools and assurance to enactment successful the fiscal system. Their accelerated growth, peculiarly among young and underserved populations, underscores some the spot of their enactment and the company’s broader mission,” Prosus Ventures’ Head of Investments, Europe, Sandeep Bakshi, commented connected the investment.