Egyptian digital investment platform Thndr has raised $15.7m in a new funding round led by Prosus Ventures, with participation from BECO Capital, Y Combinator, Endeavor, Abdul Latif Jameel, and Onsi Sawiris. The Cairo-based startup, often dubbed the “Robinhood for the Middle East”, plans to use the new capital to broaden its investment offerings and fuel regional expansion.
Founded in late 2020 by Ahmad Hammouda and Seif Amr, Thndr aims to democratise investing across the Middle East and North Africa (MENA), a region where retail investment is still nascent. While up to 50% of people in developed markets like the US and Europe invest in financial instruments, fewer than 3% of individuals in MENA are active retail investors — often due to outdated onboarding processes, limited access to financial products, and high account minimums.
“In the Middle East and North Africa, the population is large, culturally aligned, and connected by a single language,” said Hammouda. “There’s a massive opportunity to localise and scale a solution across the region, starting from Egypt.”
The company recorded impressive growth in 2024, adding over 1 million users who placed more than 15 million investment orders worth approximately EGP 170bn ($3.4bn). This brings its total funding to $39.2m, including a $20m Series A announced in 2022, which was co-led by Tiger Global, BECO Capital, and Prosus Ventures.
Thndr currently offers commission-free trading, no account minimums, and charges no deposit or withdrawal fees. Its platform allows retail investors to buy and sell Egyptian stocks and mutual funds, though it plans to add U.S. and other international securities soon. The company is currently pursuing licensing in GCC countries after securing a brokerage license in Egypt in 2020 — the first new such license issued in over a decade.
Thndr’s founders say their growth has been driven by a combination of intuitive product design and an educational-first approach. Recognising that most new users are first-time investors, the company provides tutorials, webinars, simulators, podcasts, and daily newsletters to build financial literacy.
“Seventy-five percent of our users made their first investment on Thndr with less than $500,” said COO Amr. “Without Thndr, they wouldn’t even be able to open a brokerage account because most firms require higher minimum balances.”
Thndr’s user base is also geographically diverse: 40% come from outside Cairo and Alexandria, often from areas with limited or no access to financial institutions. In 2021, 87% of users had never invested before, and the company accounted for 36% of all new registrations on Egypt’s stock exchanges that year, according to internal data.
Thndr is positioning itself as a comprehensive “investment supermarket”, aiming to cater to a wide range of investor needs by offering both local and international investment products.
“In Egypt, we see users choosing to invest in brands they recognise and interact with daily,” said Amr. “That association helps build trust and understanding. But eventually, we want to offer access to global markets too.”
To monetise its largely commission-free model, Thndr has introduced subscription-based services and signed revenue-sharing agreements with asset managers offering mutual funds on the platform. It also earns income from interest on idle customer cash balances.
Thndr’s next steps include launching access to U.S. stocks, integrating more regional exchanges, and continuing to localise its platform to serve different MENA markets. The startup is working with a partner broker to roll out international securities access “within months,” according to the founders.
The investment comes amid rising VC interest in African fintech, particularly in digital brokerage services. Tiger Global, which co-led Thndr’s previous round, recently backed Bamboo, a Nigerian platform that offers U.S. stock investing. Thndr, however, has taken a different approach — prioritising local investment access and education over a rush to international exposure.
“Investing should not be a privilege reserved for the wealthy or those in major urban centres,” said Hammouda. “It should be as easy and accessible as sending a message on your phone. That’s the future we’re building for the region.”