Egypt's Thndr Unveils New Products, Asset Management Ambition, and $15.7M Funding Round
Egyptian investment app Thndr made a series of major announcements at its first fintech keynote event in Cairo, titled "El Qessa Betkabr" (The Story is Growing). The company unveiled new investment products, Thndr Alpha and ThndrX, announced plans to seek an asset management license in Egypt, and revealed a fresh USD 15.7 million funding round led by Prosus. These moves signal Thndr's strategic evolution towards becoming a comprehensive financial institution.
Thndr's Big Stor": New Products and Vision Unveiled at Cairo Keynote
At a landmark event held at the Cairo Marriott and attended by over 300 Thndr users, partners, and investors, the Egyptian fintech platform laid out its ambitious plans for the future. The keynote, themed "El Qessa Betkabr" (The Story is Growing), served as the stage for a trio of significant updates aimed at reshaping how the region invests.
Introducing Thndr Alpha: Guided Investing for All
Thndr launched Thndr Alpha, a new guided investing experience specifically designed for first-time investors. Key features include:
Goal-Oriented Portfolios: Users can build investment portfolios based on their financial goals and risk comfort.
Diversified Assets: Portfolios can include a mix of stocks, gold, and fixed-income assets.
Simplicity and Scalability: Thndr Alpha is designed to be smart, simple to use, and built for scale, making guided investing more accessible.
ThndrX: Pro-Grade Desktop Trading Platform Launched
For more experienced and active traders, Thndr unveiled ThndrX. This desktop platform is built for users who are serious about trading, prioritizing:
Speed and Efficiency: A no-frills, performance-focused interface.
Professional Tools: Designed by and for seasoned traders.
Expanding Horizons: Seeking Asset Management License
Signaling a major strategic shift, Thndr announced it is officially seeking an asset management license in Egypt. This move would empower the company to design and manage its own financial products directly, without intermediaries. This would allow for the creation of locally-built investment vehicles tailored to the needs of Egypt’s diverse investor class.
Fresh $15.7M Funding to Fuel Next Chapter
To power its expansion and product development, Thndr also announced it has raised USD 15.7 million in a new funding round. The round was led by global tech investor Prosus, with continued support from existing prominent backers including:
Y Combinator
BECO Capital
Endeavor Catalyst
JIMCO
Raba
Onsi Sawiris
This latest injection brings Thndr's total capital raised to date to USD 37.76 million. The new funds will be used to accelerate product expansion and fuel regional growth ambitions.
From Brokerage App to Financial Institution
These announcements collectively mark a clear evolution for Thndr. The company is moving beyond providing basic market access to offering personalized financial guidance and more sophisticated investment tools. This transformation signifies Thndr's ambition to become a full-fledged financial institution, empowering its users to actively build and manage their wealth.
About Thndr
Thndr is a popular Egyptian mobile-first investment platform that provides easy access to a range of financial instruments. Backed by leading global and regional venture capital firms, Thndr aims to democratize investing in the MENA region.
Looking Ahead
With new products catering to both novice and experienced investors, a move towards asset management, and a significant new funding round, Thndr is aggressively positioning itself for a new phase of growth. These developments are poised to make a substantial impact on Egypt's fintech landscape and potentially offer a new model for investment platforms across the MENA region.
Source: Waya Media