THNDR, the Egyptian fintech, launched in 2020 as a fully digital investment platform, is expanding like lightning across the Middle East and North Africa (MENA) region. Founded by Ahmad Hammouda and Seif Amr, THNDR’s mission was to address a significant gap in the MENA region’s financial landscape.
THNDR’s solution was a mobile-first, commission-free platform with no account minimums, simplifying the entire investment journey. Notably, traditional brokerage services were often expensive, complex, and inaccessible to the average person, with equity market participation rates as low as 0.5%-2.0% in many countries. Since its launch in 2019, THNDR has seen consistent revenue growth, with expanding user base and increasing adoption across various industries.
Foray into UAE Market
In a move set to redefine capital market access in the MENA, THNDR became the first remote retail trading member on the Abu Dhabi Securities Exchange (ADX) in August 2025. This partnership, announced in mid-2025, is a strategic step for both companies.
THNDR’s mobile investment platform will soon allow its users to invest directly in highly valued publicly traded companies and exchange-traded funds (ETFs) in the UAE. This development, which was announced at the ADX headquarters in Abu Dhabi, highlights the ADX’s commitment to connecting Abu Dhabi to global capital.
Trading on ADX through THNDR involves several fees, including ADX fees (0.025%), Commission fees (0.49 AED per order + 0.1% of order value) and VAT fees (5% of abovementioned fees).
Why It Matters for the UAE
THNDR’s debut on the ADX as the first remote retail trading member marks a major step for both the fintech and the UAE’s capital markets. Through this move, the fintech’s 4 million users in Egypt and across MENA can now invest in UAE-listed equities and ETFs directly from their mobile app, eliminating the need for a local presence. This lowers barriers for retail investors and connects Abu Dhabi’s markets with a younger, digitally native audience.
For ADX, the partnership opens the door to Egypt’s expanding retail investor base, where participation in capital markets has traditionally been low but is accelerating due to platforms like THNDR. This influx of new investors could add depth, boost liquidity, and diversify activity on the exchange, supporting ADX’s broader goal of positioning itself as one of the region’s most connected and investor-friendly markets. For Egyptian investors, the tie-up provides greater diversification by giving them direct access to high-profile UAE companies and ETFs.
The impact on volumes could be meaningful. Even limited engagement from THNDR’s large user base could add substantial trading flows. If just 1% of its 4 million users invested $1,000 each in ADX-listed securities, that would represent about $40 million in fresh trading activity.
Funding Round & Success Story
THNDR, a Y Combinator graduate, raised early backing before securing a major 2022 round from Tiger Global and BECO Capital. In May 2025, it added $15.7 million from Prosus Ventures, bringing total funding to $37.76 million.
In 2024, THNDR strengthened its role as Egypt’s top retail brokerage on the EGX, capturing 11% of retail market value. The company processed over $13 billion* in trading value and executed 12 million trades. During the year, it onboarded nearly 190,000 new investors, representing 82% of all new EGX accounts.
The platform also broadened access by increasing female participation from 3% to 12% and extending services to underserved communities outside major cities. In gold mutual funds, the company accounted for 47% of all assets under management.
With more than 4 million downloads, THNDR serves as an all-in-one investment platform by providing access to three markets (the UAE, Egypt, and the U.S.) and a diverse range of assets, including stocks, gold, mutual funds, and savings products.
Future Prospects
Ahmad Hammouda, co-founder and CEO, recently said the company is moving beyond market access to focus on long-term wealth building. It is also pursuing an asset management license in Egypt to launch and manage financial products for regional investors.
THNDR intends to channel its latest funding into regional growth, prioritizing expansion in the UAE and Saudi Arabia. Having already established a presence in the UAE, the company now seeks to mirror its Egyptian success by creating tailored, trustworthy digital investment platforms for the Saudi market. Saudi Arabia represents a particularly attractive opportunity, with Vision 2030 driving rapid adoption of fintech solutions and cashless transactions.
Overall, THNDR’s progress highlights the strength of its value proposition, making investing simple and accessible, and its ability to draw substantial backing from prominent investors. By addressing a critical gap in an underserved market, the company is not only scaling a successful business but also playing an active role in reshaping the future of finance across MENA.
*Data taken from THNDR, Prosus, Techfunding, Menabyts
