We’re absolutely thrilled to share that Thndr has just secured a game-changing $20 million Series A investment. This remarkable milestone wouldn’t have been possible without your trust and support. We’re excited to bring you along on this exciting journey as we continue to redefine investing in the Middle East and North Africa (MENA) region.
First things first, let’s talk about the incredible backers who believe in our mission as much as you do. This funding round was co-led by some heavyweights in the investment world, including Tiger Global, BECO Capital, and Prosus Ventures. But that’s not all – we also welcomed Base Capital, firstminute, and our existing partners Endure Capital, 4DX Ventures, Raba Partnerships, and JIMCO to this impressive roster.
So, what’s this fresh influx of funds all about? We’re putting it to work right away. Our focus is on enhancing your Thndr experience and expanding our reach across the MENA region. The growth of assets under our care was nothing short of extraordinary – a staggering 29-fold increase during the wild ride that was 2021. And guess what? Monthly traded values saw a similar surge! As your partner in financial growth, we’re honored to have accounted for a significant 36% of all new registrations on local Egyptian exchanges last year.
Remember when we embarked on this journey back in late 2020? Well, it’s amazing how far we’ve come, thanks to the trust you’ve placed in us. We started with a clear goal in mind – to revolutionize the old, cumbersome ways of opening and managing investment accounts in our region. And boy, have we come a long way! We’re making investing in stocks, bonds, and funds easier and more accessible than ever through our mobile-based, low-commission digital stock brokerage.
Our region, compared to the US and Europe, has been underserved when it comes to investment platforms. But the potential here is massive. A population of 370 million people amasses $500 billion in annual savings. More than half of us own smartphones, and half of us fall in the 14-45 age range – that’s a vibrant demographic right there. Thndr is on a mission to transform potential investors into active players. Did you know that a whopping 87% of our users are investing for the first time? And here’s a fun fact: 40% of you hail from rural areas. Our Thndr family is growing, and it’s more diverse than ever.
Ahmad Hammouda, Co-Founder and CEO of Thndr, shares his excitement:
“Imagine an investment supermarket tailored to you, our MENA community, where you can easily access investment products that resonate with you. Our focus on financial literacy means you’ll have the knowledge to make confident investment decisions. We’re proud to be change-makers in the investment landscape, true to our mission of democratizing investing across our region. The support from global investors of this stature is a resounding endorsement of our strategy and the vast market opportunity in the region. We’re truly elated to unveil this new funding chapter, continuing to lead the way in wealthtech for our region.”
Our partners at Tiger Global are equally thrilled. Alex Cook, a Partner at Tiger Global, shared his thoughts:
“We’re eager to stand behind Ahmad, Seif, and the entire Thndr team as they redefine how investing happens in Egypt and the broader MENA region. There’s a gap in the market for an affordable, user-friendly platform for investing and saving, and we’re confident that Thndr will provide an unparalleled customer experience as it grows.”
And there’s more excitement from Yousef Hammad, Managing Partner at BECO Capital:
“Thndr’s team and their mission to empower millions of individuals across MENA, starting with Egypt, to become everyday investors resonated deeply with us. We’ve been alongside the Thndr team from the very start, and we’ve witnessed their unwavering dedication. After analyzing the MENA landscape, it’s clear that Hammouda and the Thndr team are addressing this space in a superior way compared to others.”
Sandeep Bakshi, Head of European Investments for Prosus Ventures, sees a unique opportunity for Thndr in the MENA market:
“Compared to more developed regions, the MENA opportunity for equity brokerage is complex for international players due to regional diversity, cultural intricacies, and regulatory frameworks. Thndr is uniquely positioned to capture this incredible opportunity. We firmly believe that the company’s mission is part of a transformative era in MENA’s fintech landscape, enabling a broader and younger demographic to access equity capital markets.”
So, what does all this mean for you? As we gear up for an exciting future, we’re committed to making investing accessible, easy, and empowering for each one of you. Your trust and support drive us forward, and we can’t wait to show you what’s next on this journey.
Stay tuned for more updates – exciting times lie ahead!