Thndr Expands GCC Ambitions, Focuses on Saudi & UAE Fintech

Thndr is expanding across the GCC with plans targeting Saudi Arabia, Dubai and Bahrain following a $15.7 million funding round led by Prosus Ventures.

Egyptian fintech startup Thndr is preparing a broader Gulf expansion push as the retail investing platform deepens its presence in the United Arab Emirates while laying groundwork for operations in Saudi Arabia and Bahrain, according to company announcements and investor disclosures. The Cairo based company, founded in 2020 by co founders Ahmad Hammouda and Seif Amr, has positioned itself as one of the region’s fastest growing consumer investment platforms focused on first time retail investors.

The expansion plans follow Thndr’s $15.7 million funding round announced in May 2025, led by Prosus Ventures with participation from Y Combinator, BECO Capital, Endeavor Catalyst and other investors. The round brought the company’s total funding to approximately $37.76 million. The company said the new capital would primarily support expansion into the UAE and Saudi Arabia while strengthening product development across the wider MENA region.

Thndr entered the UAE market after securing a Category 3A license with retail endorsement from the Abu Dhabi Global Market Financial Services Regulatory Authority. The company has since expanded operations from Egypt into the Gulf, with executives increasingly pointing toward Saudi Arabia as a strategic long term market because of the kingdom’s growing retail investor base and fintech adoption initiatives under Vision 2030. Bahrain is also emerging as a possible regional operating hub due to its fintech friendly regulatory environment and rising venture activity.

The startup said it processed more than $3.5 billion in traded value during 2024 and accounted for roughly 11% of Egypt’s retail traded value on the Egyptian Exchange. Thndr also reported adding more than 190,000 new investors to the market during the year, with 82% of all newly registered Egyptian Exchange investors entering through its platform.

The GCC expansion places Thndr among a growing wave of MENA fintech companies scaling beyond domestic markets. Similar regional growth trajectories have been seen from firms including Tabby and Tamara, both of which expanded across Gulf markets as investor appetite for digital financial services accelerated in the region.

Thndr has also introduced new products including Thndr Alpha, targeted at beginner investors, and ThndrX, a trading platform designed for professional users. The company is additionally pursuing an asset management license in Egypt as it seeks to broaden offerings beyond brokerage and trading services.