Egypt’s Thndr raises $15.7 million to increase past brokerage with new wealth administration merchandise 

Cairo-based funding platform Thndr has raised $15.7 million in a funding spherical led by international tech investor Prosus, with participation from Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, Raba, and Onsi Sawiris. The spherical brings the corporate’s complete funding to $37.76 million.

The Egyptian startup additionally unveiled two new merchandise that sign its growth past primary buying and selling providers. Thndr Alpha is a guided investing expertise designed for first-time traders, that includes portfolios tailor-made to particular person objectives and threat appetites with a mixture of native and international asset lessons together with shares, gold, and glued earnings. ThndrX is a professional-grade desktop platform constructed for severe merchants, emphasizing velocity, precision, and efficiency.

“Thndr is not simply giving folks entry to the market, we’re serving to them construct long-term wealth, guided by intelligence and powered by native relevance,” stated Ahmad Hammouda, co-founder and CEO of Thndr. “That is the following chapter for fintech within the area.”

The corporate additionally introduced it’s pursuing an asset administration license in Egypt, which might allow it to launch and handle its personal monetary merchandise designed particularly for regional traders, moderately than counting on repackaged international devices.

Based in 2020 by Ahmad Hammouda and Seif Amr, Thndr has positioned itself as a mobile-first, low-commission digital funding platform serving customers throughout the Center East. The platform has seen fast development, with 87% of its person base comprising first-time traders and 40% coming from rural areas, based on earlier firm knowledge.

Final yr, Thndr expanded its providers to the UAE after buying a Class 3A license with retail endorsement from the Abu Dhabi World Market (ADGM) Monetary Providers Regulatory Authority (FSRA).

The recent capital will assist product growth and regulatory development as Thndr deepens its person base and broadens its service choices throughout the MENA area. The funding spherical underscores continued investor confidence in fintech alternatives inside the Center East’s underserved funding market, the place investor penetration stays under 3% throughout the area.

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