Thndr, an Egyptian Investment platform, obtains a new brokerage license.
Thndr, an Egyptian Investment platform, has acquired the first new brokerage license issued by Egypt’s Financial Regulatory Authority since 2008.
Thndr is a mobile-first equities trading platform that allows people to invest in stocks, bonds, and funds in The Egyptian Exchange. The startup has a mobile app both on the Play Store and App Store.
Co-founder and CEO of Thndr, Ahmad Hammouda said, “Our vision is to put wealth in the hands of everyday individuals. With the rise of technology, and the foresight of a very supportive Financial Regulatory Authority, we can make this vision come to life — Egypt is expected to be the 7th largest economy by 2030 and has more than 100 mn people, most of which are young and are looking for a convenient and digital way to invest their money. That’s why we are excited to bring a new breed of young investors to the market.”
After acquiring the license, Thndr is now open up for real trading accounts.
Users can sign up for a trading account via the app and receive a notification whenever it is approved. Once the account is approved, they can use different methods to start investing in stocks.
The company said the app is easy to use. Users can see different types of data including the recent news about any particular stock (from The Egyptian Exchange) without leaving the app.
The account opening form is intuitive and the stocks can be purchased or sold with a few taps.
Thndr currently offers three plans for investors. The first one is free while the paid plans start from EGP 15 (about a dollar) per month. The startup is pioneering the concept of commission-free trading with no account minimums in the region.
Co-founder of Thndr, Seif Amr said, “Through Thndr, we are looking to remove all barriers and the friction that users face throughout their investment journey – whether it relates to accounting opening, associated costs, access to resources or ease of use.
We are starting with Egyptian equities, but we intend to quickly introduce alternative investment options to suit different risk/reward and involvement preferences.”
Also, Thndr disclosed that is a member of Y Combinator’s S20 batch and will present at their demo day later this month.
The startup was founded in 2020 in Cairo, Egypt.