Thndr aims at solving Egypt and the region’s painful, outdated and time-consuming process to open, fund and actively manage investment accounts.
Thndr’s first product is a mobile-first equities trading platform in Egypt. The startup just acquired the necessary licensing from the Financial Regulatory Authority (FRA) making the fast-growing startup the first company to acquire a brokerage license in Egypt since 2008. Issuing a license to a tech company is a testament to the regulator’s strong commitmentseeking modern methodologies to enhance the investment landscape in Egypt.
“Our vision is to put wealth in the hands of everyday individuals. With the rise of technology, and the foresight of a very supportive Financial Regulatory Authority, we can make this vision come to life — Egypt is expected to be the 7th largest economy by 2030 and has more than 100 million people, most of which are young and are looking for a convenient and digital way to invest their money. That’s why we are excited to bring a new breed of young investors to the market,” says Ahmad Hammouda, Co-Founder and CEO at Thndr.
Thndr is pioneering “commission free investment” in the region. The basic features and benefits of trading on Thndr include: Commission free trading and no account minimums, seamless account opening and funding (all digital and mobile first), and access to educational material, the latest news, and market data.
“Through Thndr, we are looking to remove all barriers and friction that users face throughout their investment journey – whether it relates to account opening, associated costs, access to resources or ease of use. We are starting with Egyptian equities, but we intend to quickly introduce alternative investment options to suit different risk/reward and involvement preferences,” says Seif Amr, Thndr Co-Founder.
Thndr pre-seed funding involved an array of distinct investors such as Y-Combinator, 4DX Ventures, Endure Capital, The Raba Partnership, MSA Capital, along with some other notable investors that include Tom Stafford, Managing Partner, DST “Savings and investing is a critical part of building wealth and economic development, and Egypt’s youth needs a mobile first platform like Thndr to open the floodgates of investing in the coming decades.
Platforms like Thndr have seen great success in other markets across the world, and Thndr is built with keen attention to the local nuances and preferences of the Egyptian investor in mind. “We believe that Hammouda and the rest of the team at Thndr are the ideal group to build this business in the region, and we’re very excited to partner with them in achieving their important mission,” says Peter Orth, Co-founder and Managing Partner at 4DX Ventures.