Investment of $15.7 million propels Thndr's growth in expanding market coverage across the United Arab Emirates and Saudi Arabia.
In a significant move to democratise investing across the Middle East and North Africa (MENA) region, Egyptian digital investment platform Thndr has secured a $15.7 million funding round. Led by Sandeep Bakshi, Head of Investments, Europe at Prosus Ventures, the investment aims to fuel Thndr's regional growth, particularly in the UAE and Saudi Arabia [1][2][4].
Thndr, based in Cairo, has already demonstrated its capacity to attract and educate novice investors, having facilitated over 190,000 new investors into the Egyptian Exchange in 2024, representing 82% of new retail investor registrations [3]. The company's expansion into new markets is backed by this fresh capital and regulatory steps.
To cater to both novice and experienced investors, Thndr has launched a product called Thndr Alpha. This guided investing platform, designed for beginners, provides a simplified investment experience by asking three key questions about financial goals, risk tolerance, and investment time horizon. Based on these inputs, it recommends a personalised "Starter Pack" portfolio that includes a mix of equities, gold, and fixed income assets, generated by Thndr’s proprietary investment engine, Rumble [3].
In addition to Thndr Alpha, the platform also offers ThndrX, a high-performance trading platform for professional traders. Both platforms provide commission-free trading without account minimums for stocks, bonds, mutual funds, and gold [3].
Thndr's success in Egypt has been remarkable, with the platform processing over $3.4 billion in trades and welcoming over one million new users in 2024 [4]. The company aims to replicate this success in the Saudi Arabian market by building trusted, locally relevant investment platforms.
Sandeep Bakshi, commenting on the investment, stated that Thndr is transforming access to investing across MENA. He emphasised the strength of Thndr's mission and the company's leadership, underscoring the investment as a testament to this [1].
The funding round also included contributions from Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, Raba, and Onsi Sawiris [1]. Thndr is now preparing to enter the Saudi Arabian market, applying for regulatory approvals as part of its entry strategy [1].
With this latest round, Thndr's total funding now stands at $37.76 million [1]. As Thndr expands into new markets, it continues to focus on democratising investment access, offering both beginner-friendly tools and more advanced offerings for seasoned investors. Many of Thndr's new users are first-time investors from outside major urban centres, demonstrating the platform's potential to reach and educate a wide audience [3].
Sources: [1] TechCrunch. (2023, May 30). Thndr raises $15.7 million to expand its digital investment platform to the UAE and Saudi Arabia. Retrieved from https://techcrunch.com/2023/05/30/thndr-raises-15-7-million-to-expand-its-digital-investment-platform-to-the-uae-and-saudi-arabia/ [2] MENAbytes. (2023, May 30). Egyptian digital investment platform Thndr raises $15.7 million to expand into UAE and Saudi Arabia. Retrieved from https://menabytes.com/2023/05/egyptian-digital-investment-platform-thndr-raises-15-7-million-to-expand-into-uae-and-saudi-arabia/ [3] Thndr. (2023). About Us. Retrieved from https://www.thndr.com/about [4] Thndr. (2023). Thndr Alpha. Retrieved from https://www.thndr.com/thndralpha
1.Thndr, with its fresh capital, intends to utilize technology to expand its business in the UAE and Saudi Arabia, focusing on democratizing finance by making investing more accessible for beginners.2. The investment into Thndr, led by Sandeep Bakshi, represents a strategic move in the business sector, particularly in technology, as Thndr aims to transform the investing landscape across the MENA region.
