Egypts fintech Thndr secures $20mln in Series A round

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RIYADH: Egyptian fintech and digital investment platform Thndr has secured $20 million in its Series A fund round.

The fund will be used to build a so-called ‘investment supermarket’ for consumers in the Middle East and North Africa region, Magnitt reported, citing Ahmad Hammouda, co-founder and CEO of the firm.

“The support from leading global investors is a significant endorsement of our strategy and the very clear market opportunity in the region,” he emphasized.

The funding round was led by US investment firm Tiger Global, UAE venture capital group BECO Capital, and Netherland’s Prosus Ventures.

Launched in 2020, Thndr is a mobile first equities trading platform that aims to facilitate the process of opening and managing investment accounts in the MENA region as well as aiding the process of investing in stocks, bonds, and funds.

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