Thndr was founded in 2020 by Ahmad Hammouda and Seif Amr following their participation in the Silicon Valley-based Y Combinator program. Initially, Thndr provided consumers with an easy-to-use, commission-free mobile-first equities trading platform for stocks, bonds, and ETFs.
Prior to receiving a US$20 million investment round for MENA region expansion in February 2022, the startup—which in 2020 became the first business to receive a brokerage license in Egypt since 2008—launched an extra product that allows customers to trade in mutual funds.
Following the acquisition of a Category 3A license with retail endorsement from the ADGM FSRA, it has officially announced its market launch into the United Arab Emirates. At first, Thndr would offer direct access to US-listed securities, such as stocks and exchange-traded fractional shares and funds{EFTs}.
“We at Thndr are thrilled to announce our official entry into the UAE market. We’d like to express our sincere gratitude to the FSRA for their openness and for welcoming Thndr to the UAE’s dynamic financial landscape,” remarked Thndr’s general manager for the UAE, Salah Kaddoura.
