Sunday June 16th, 2024
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Egypt-Based Investment Platform Thndr Announces Entry Into UAE Market

Users of the Egyptian-founded investment platform traded $1.8 billion in 2023 alone.

Raïs Saleh

Egypt-Based Investment Platform Thndr Announces Entry Into UAE Market

Thndr, an Egypt-based mobile-first investment platform, has announced its entry into the UAE market. Enabled by acquiring a Category 3A license with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA), Thndr will offer direct access to US-listed securities, including stocks, Exchange Traded Funds (ETFs), and fractional shares, with no minimum investment requirements.

This marks a significant expansion for Thndr, which has proven its capabilities in the Egyptian market, where users traded $1.8 billion in 2023. The platform accounted for 8.5% of all retail transactions as of April 2024.

Thndr's affiliation with Hub71, Abu Dhabi's global tech ecosystem, further supports its expansion. “Once again, startups like Thndr show that Hub71 is a community where the world’s fastest-growing startups can succeed from within Abu Dhabi’s thriving fintech scene,” Peter Abou Hachem, Head of Growth and Strategy at Hub71, tells StartupScene. “Our commitment to building a global tech ecosystem is based on empowering startup growth that makes a positive impact on the economy and society. Thndr has demonstrated a proven track record of success in Egypt, and now we are poised to act as their launchpad for the next phase of their journey from Abu Dhabi.”

Thndr’s user-friendly app, educational resources, and diverse investment selection have empowered over 500,000 active monthly users and facilitated a significant portion of new stock market investors in Egypt. The platform’s entry into the UAE market aims to replicate this success, providing a one-stop-shop for investors with a wide array of products.

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