Egypt-based fintech Thndr launches services into UAE market

Egypt-based fintech Thndr launches services into UAE market

Cairo – Mubasher: MENA region's mobile-first investment platform Thndr expanded its services to the UAE after acquiring a Category 3A licence with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA).

This move will enable the company to offer investors a one-stop-shop for investing, with its array of products, according to a press release.

Thndr's affiliation with Hub71 will provide the app with a launchpad to seamlessly integrate into the UAE market, boosting its growth and disrupting the traditional investment landscape.

Egypt-based fintech will initially secure direct access to US-listed securities, including stocks, Exchange Traded Funds (ETFs), and fractional shares, with no minimum investment requirements. It also aims to launch a wider array of investment products as they establish themselves in the region.

In 2023, Egyptians traded $1.80 billion on Thndr, and as of April 2024, the platform accounted for 8.50% of all retail transactions in the market.

It currently boasts more than 3 million downloads, with 500,000 active monthly users, and has facilitated a significant portion of new stock market investors in the Arab Republic.

Salah Kaddoura, UAE General Manager at Thndr, said: “Four pillars have made our model resonate in Egypt, and I'm excited to see us replicate that local