Tiger Global, BECO Capital and Prosus Ventures co-lead Series A investment round
Thndr, the Egyptian digital investment platform, has announced a new US$ 20mn series A investment.
The round was co-led by Tiger Global, BECO Capital and Prosus Ventures, in addition to participation from additional investors.
The new funding will go towards product development and to expand Thndr’s presence across MENA. Thndr has grown assets under custody rapidly, 29 times over during 2021 and monthly traded values up are by similar levels. Thndr also accounted for 36% of all new registrations in the local Egyptian exchanges during 2021.
Launched in late 2020 by Ahmad Hammouda and Seif Amr, Thndr is filling this gap by transforming the traditionally outdated, slow, and non-user-friendly process of opening and managing investment accounts in the region.
The company is making it easy to invest in stocks, bonds, and funds in the region through its mobile-based and low-commission digital stock brokerage.
“We are building an investment supermarket for MENA consumers to access relevant investment products. With a focus on financial literacy, we equip investors with the knowledge to make self-directed investment decisions,” commented Ahmad Hammouda, Co-Founder and CEO, Thndr. “The market is lacking a low cost, easy to use platform for investing and saving, and we believe Thndr will deliver best-in-class customer experience as the platform scales,” remarked Alex Cook, Partner, Tiger Global.