Thndr, the leading mobile-first investment platform in the MENA region, proudly announces its expansion into the United Arab Emirates (UAE) following its exceptional success in Egypt.
This significant milestone is facilitated by acquiring a Category 3A license with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA).
Thndr will initially offer direct access to US-listed securities, including stocks, Exchange Traded Funds (ETFs), and fractional shares, with no minimum investment requirements. As Thndr establishes its presence in the UAE, it plans to introduce an even broader range of investment products.
Thndr’s achievements in Egypt underscore its capabilities and potential. In 2023, Egyptians traded an impressive $1.8 billion through the platform, and by April 2024, Thndr accounted for 8.5% of all retail transactions in the market.
The platform boasts over 3 million downloads and 500,000 active monthly users, significantly contributing to the influx of new stock market investors in Egypt. Now, with its entry into the UAE market, Thndr aims to offer investors a comprehensive, one-stop investment solution.
Building on its success in democratizing investment in Egypt, Thndr is strategically positioned to replicate this model in the UAE.
This expansion is bolstered 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 for seamless integration into the UAE market, facilitating 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, the creation of an investment superstore offers a variety of options based on individual needs.
Second, our commitment to our local regulator helped us stay ahead. Third, we aimed to demystify investing through accessible content.
Finally, we designed our product with a user-first approach, making it easy-to-use and tailored to the needs of everyday young investors.
Our commitment to these principles has democratized investing for all Egyptians, with 87% of our users being first-time investors. I can’t wait for what we have in store for the UAE,” said Thndr’s co-founder.
“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’s (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, added, “Once again, startups like Thndr show that Hub71 is a community where the world’s fastest-growing startups can succeed within Abu Dhabi’s thriving FinTech scene.
Our commitment to building a global tech ecosystem is based on empowering startup growth that positively impacts the economy and society.
Thndr has demonstrated a proven track record of success in Egypt, and we are poised to act as their launchpad for the next phase of their journey from Abu Dhabi.”
- Egypt-based fintech Thndr has expanded its services to the UAE after acquiring 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.
- Founded in 2020 by Ahmad Hammouda and Seif Amr, Thndr is a digital investment platform that allows its users to invest in stocks, bonds, and funds in the Middle East through its mobile-based and low-commission digital stock brokerage.
- According to Thndr, it observed a trading volume of $1.8 billion in 2023. As of April 2024, Thndr accounted for 8.5% of all retail transactions in the market.
