Thndr Analysis: $20M Raised
What is Thndr?
Thndr offers retail investing in Egypt across stocks, mutual funds, gold, and savings products. The site says it is licensed by the Financial Regulatory Authority and supports local funding methods, including bank transfer, Instapay, Vodafone Cash, and debit card. It also provides an investing simulator and educational content for new investors.
Location
Cairo, Egypt
Employees
201-500
Founded
2019
Revenue
$31.2M
Product Features & Capabilities
- Egyptian Stocks, Equity Funds, Savings Funds, Gold, Effortless account opening, Intuitive investing platform, Flexible funding methods, Investing simulator, Learn platform.
Pricing
- Thndr Spark: EGP 25 per month
- Thndr Express Egypt: EGP 100 per month
- Free Trial: One-month free trial available for new subscribers
How much Thndr raised
Series A - $20 million
February 7, 2022Lead Investor: Tiger Global, BECO Capital, Prosus Ventures
Who are the founders of Thndr
AH
Ahmad Hammouda
Co-founder, CEO
Competitors Overview
Thndr operates in the MENA region's wealthtech sector, primarily competing with Baraka and Sarwa.
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Baraka: Founded in 2020, Baraka targets millennial retail investors and allows trading on the US stock exchange. It emphasizes financial education and offers a low commission structure. Baraka plans to expand its services to local exchanges, which may attract users interested in both international and local investment opportunities.
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Sarwa: Launched in 2018, Sarwa functions as a digital financial advisor, providing various investment products, including a Shariah-compliant portfolio. This service appeals to users looking for tailored investment solutions and financial guidance.
Notable Differences:
- Thndr is unique in offering bilingual mobile-first equity trading in Egypt and was the first to acquire a brokerage license in the country since 2008. However, it does not provide access to US markets, which may limit its appeal to users seeking international investment options. In contrast, both Baraka and Sarwa offer broader investment opportunities, including access to US markets and personalized financial advice.
Business Model
Revenue from transactional fees, custody fees, and distribution fees from asset managers.
Market Focus
Thndr primarily focuses on the financial services industry, specifically as an app-based investment platform that allows users to invest in stocks, bonds, and funds.
Investors
- Tiger Global Management
- Prosus Ventures
- 500 Startups
- A15
- AUC Angels
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