Egypt's Thndr expands to UAE after getting regulatory approval
TLDR
- Thndr, an Egyptian fintech company, expands to the UAE market with a Category 3A license from ADGM FSRA.
- Thndr offers a mobile-based digital stock brokerage platform with low commissions, allowing investments in stocks, bonds, and funds in the Middle East.
- The platform provides direct access to US-listed securities like stocks, ETFs, and fractional shares, with a significant trading volume of $1.8 billion in 2023, capturing 8.5% of retail transactions in April 2024.
Egyptian fintech Thndr has made its foray into the UAE market following the acquisition of a Category 3A license with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA).
Established in 2020, Thndr offers a mobile-based, low-commission digital stock brokerage platform, facilitating investments in stocks, bonds, and funds across the Middle East. Its platform enables direct access to US-listed securities, including stocks, Exchange Traded Funds (ETFs), and fractional shares, with no minimum investment requirements.
With a reported trading volume of $1.8 billion in 2023, Thndr has quickly gained traction, accounting for 8.5% of all retail transactions in the market as of April 2024.
Key Takeaways
Like Daba, startups such as Thndr are driving financial inclusion by making investment opportunities accessible to a broader audience in Africa. Thndr’s expansion into the UAE aligns with its strategic vision of tapping into the Gulf Cooperation Council (GCC) market, which offers substantial growth potential. The UAE's robust regulatory framework and progressive stance on fintech provide an ideal environment for Thndr’s next growth phase. Notably, the Abu Dhabi Global Market (ADGM) has been instrumental in fostering innovation and attracting fintech companies globally. As part of its expansion strategy, Thndr is exploring partnerships with local financial institutions and fintech startups in the UAE to enhance its service offerings and integrate into the local financial ecosystem.
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