We are on a mission to make investing more accessible for everyone. Accessible investing means easier funding methods. Today, we are super proud of our regulator the Financial Regulatory Authority (FRA), who has just granted Thndr users the approval to use Fawry to fund their wallets.
We have been working day and night over the last year on building a case for brokerage houses to use alternative funding methods. The FRA have been extremely supportive of our cause as well sponsoring these discussions with the Central Bank of Egypt (CBE). Adding Fawry as a funding alternative for brokerage houses is a huge testament to both the FRA and CBE supporting rallying towards financial inclusion.
Before today, available funding methods (bank transfers & deposits) have been limited, being accessible to only about 30% of the Egyptian population. However, we believe in a financial system with funding methods that work for everyone, regardless of their circumstances, location, or bank account balance. Funding methods that are available and tailored to work for 100% of the Egyptian population.
Since 2007, Fawry has become a household name when it comes to any kind of payment you can think of. You can use Fawry to pay your phone bill, tuition, and traffic tickets. Now you can top up your Thndr wallet using Fawry from anywhere and at any time.
We promise to continue to work extremely hard towards becoming an agent of change when it comes to regulations and providing financial services that are designed and are accessible to everyone.
We want to thank Fawry for the tremendous role they played in making this all a reality. We also must thank the Financial Regulatory Authority and the Central Bank of Egypt for their progressiveness and openness to new ideas. It started off with Thndr (a fintech startup) being granted the first brokerage license in Egypt in the past decade. Moving on to allowing anyone under the age of 16 years start their investment journey and open up an account. Today, this continues to show through their approval of more accessible funding methods—Fawry.
How it works:
– Go to your wallet
– Tap “Top Up”
– Choose Fawry
– Enter the amount you wish to deposit and tap “Send details”
– You’ll have 24 hours to head to your nearest Fawry Plus outlet
– Make sure you have your ID with you
– At the branch pay the amount, submit your “Fawry transaction code” & “Merchant number”
– After 24 hours, you’ll see the amount to be received added to the funds in your wallet.
The Thndr Team