Thndr Raises $15.7M to Expand Its WealthTech Footprint Across MENA

Cairo-based investment platform Thndr has announced a $15.7 million funding round (USD) led by Prosus Ventures and joined by notable backers including Y Combinator, BECO Capital, JIMCO, Endeavor Catalyst, and Raba. This raise brings Thndr’s total funding to $37.76 million and signals a new phase of regional expansion across the Middle East. 

Founded in 2020 by Ahmad Hammouda and Seif Amr, Thndr has emerged as a digital-first brokerage platform designed to democratize investing across MENA. Through a mobile-native experience and low-commission trading, Thndr enables access to local and U.S. equities, mutual funds, gold, and savings products, addressing a historically underserved investor base. 

Thndr is doing what few platforms in MENA have been able to execute at scale: 

• Bridging financial access through an investment app that resonates with first-time and emerging investors. 

• Driving market participation: In 2024 alone, Thndr onboarded 190,000 new investors to the Egyptian Stock Exchange (EGX), accounting for 82% of all new investor registrations. 

• Retail leadership: The firm now handles 11% of Egypt’s total retail trading volume and holds 47% market share in gold mutual funds. 

• Expanding inclusivity: Female participation on the platform grew from 3% to 12%, and 40% of users now come from outside major cities, clear evidence of its reach beyond traditional financial centers. 

Thndr already holds key licenses from both the Financial Regulatory Authority (FRA) in Egypt and a Category 3A license with retail endorsement from the Abu Dhabi Global Market (ADGM) FSRA, allowing it to operate in the UAE. These licenses position Thndr to scale responsibly as it deepens operations in the UAE and prepares for market entry into Saudi Arabia, a region poised for fintech acceleration. 

For early backer Prosus, the reinvestment reflects growing conviction. Sandeep Bakshi, Head of Investments for Europe at Prosus, underscored Thndr’s momentum by stating 

“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, particularly among young and underserved populations, underscores both the strength of their leadership and the company’s broader mission.” 

According to CEO Ahmad Hammouda, Thndr aims to build the region’s “investment-first money app”, a unified platform offering regional and international products through one wallet and one account. With fewer than 2% of individuals in MENA participating in capital markets, the addressable market is massive and Thndr is positioning itself at the forefront of this transformation. 

Thndr represents a compelling case study in localized WealthTech innovation. With strong backing, regulatory alignment, and a clear expansion roadmap, the company is poised to lead a generational shift in financial access across MENA. As WealthTech models scale globally, Thndr’s approach offers a glimpse into how digital infrastructure can unlock retail investment growth in emerging markets.