Abu Dhabi, United Arab Emirates - Thndr, the MENA region's mobile-first investment platform, today announced its market entry into the United Arab Emirates (UAE), after it’s renowned success in Egypt, as the #1 investment platform. This significant step is enabled by the acquisition of a Category 3A license with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). Thndr will initially provide direct access to US-listed securities, including stocks, Exchange Traded Funds (ETFs) and fractional shares with no minimum investment requirements and plans on introducing an even wider array of investment products as they establish themselves in the region. This marks a significant expansion for the Thndr product, which has proven its success in the Egyptian market.

Thndr's success in Egypt serves as a strong testament to its capabilities. Egyptians traded an impressive $1.8 billion on Thndr in 2023 and as of April 2024 Thndr accounted for 8.5% of all retail transactions in the market. The platform currently boasts over 3 million downloads, with 500,000 active monthly users, and has facilitated a significant portion of new stock market investors in Egypt. Thndr’s entrance into the UAE market will now enable the company to offer investors a one-stop-shop for investing, with its array of products.

Leveraging its success in opening up investment access for the Egyptian market, Thndr is strategically poised to replicate this approach in the UAE.  This expansion is further amplified by Thndr's affiliation with Hub71, Abu Dhabi's global tech ecosystem.  Hub71's extensive network of established corporations, national champions, and prominent investors provides Thndr with a launchpad to seamlessly integrate into the UAE market,  facilitating their growth and potentially disrupting the traditional investment landscape.

Since its inception, Thndr has been on a mission to break down barriers to entry in the investment world. By offering a user-friendly app, educational resources, and a diverse investment selection it empowers individuals, regardless of their financial background, to take control of their financial futures.

“Four pillars have made our model resonate in Egypt, and I'm excited to see us replicate that local success in the UAE. First off, the creation of an investment superstore, offering a variety of investment options based on individual needs. Secondly, our belief and commitment to our local regulator helped us stay ahead. Thirdly, the challenge we took on was to demystify investing through content, making it approachable for all. Finally and most importantly, we were user-first in how we designed our product, making it easy-to-use and tailored to the needs of everyday young investors. I take pride in seeing how our commitment to these principles has democratized investing to all Egyptians, illustrated by the fact that 87% of our users are first time investors, and can’t wait for what we have in store for the UAE.”

“We at Thndr are thrilled to announce our official entry into the UAE market. This exciting development is a direct result of the incredible support we’ve received from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). Their guidance and efficient licensing process have been instrumental in making this a reality. We’d like to express our sincere gratitude to the FSRA for their openness and for welcoming Thndr to the UAE’s dynamic financial landscape.“ said Salah Kaddoura, UAE General Manager at Thndr.

Peter Abou Hachem, Head of Growth and Strategy at Hub71, said: "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. 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."

The app can be downloaded from the Apple App Store and Google Play.

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About Thndr

Thndr is Egypt’s first fully-digital investment platform simplifying and democratizing investment in Egypt. The application incubates over 3 million users in Egypt. The digital app, educates and empowers investors to make their own investment decisions and take a stake in their own economies, through the purchase of Egyptian stocks, gold & mutual funds. Launched in late 2020 by Ahmad Hammouda and Seif Amr, Thndr secured the first brokerage license issued in Egypt since 2008, and it has raised a total of $22 million in funding to date from renowned global venture capitalists, including Tiger Global, BECO Capital and Prosus Ventures.

More information can be found on their website: https://Thndr.app/

For all media inquiries, contact:
Suzanne Kanianthra | Adnan Wahidi  | Alina Zuberi | Sarah Kanji
Atteline
E-mail:thndrteam@atteline.com