Thndr Expands Into UAE Following ADGM Approval 

Mobile-first investment platform Thndr has announced its entry into the UAE market, after it acquired a Category 3A license with retail endorsement from ADGM.

Thndr will initially provide direct access to US-listed securities, including stocks, Exchange Traded Funds (ETFs) and fractional shares, with no minimum investment requirements and plans on introducing an even wider array of investment products as they establish themselves in the region. This marks a significant expansion for the product, which has proven its success in Egypt with $1.8 billion traded on Thndr in 2023. As of April 2024, Thndr accounted for 8.5% of all retail transactions in the market. The platform currently boasts over 3 million downloads, with 500,000 active monthly users, and has facilitated a significant portion of new stock market investors in Egypt. Thndr’s entrance into the UAE market will now enable the company to offer investors a one-stop-shop for investing, with its array of products. 

This expansion is further amplified by Thndr's affiliation with Hub71, whose extensive network of established corporations, national champions, and prominent investors provides Thndr with a launchpad to seamlessly integrate into the UAE market.

“Four pillars have made our model resonate in Egypt, and I'm excited to see us replicate that local success in the UAE. First off, the creation of an investment superstore, offering a variety of investment options based on individual needs. Secondly, our belief and commitment to our local regulator helped us stay ahead. Thirdly, the challenge we took on was to demystify investing through content, making it approachable for all. Finally and most importantly, we were user-first in how we designed our product, making it easy-to-use and tailored to the needs of everyday young investors. I take pride in seeing how our commitment to these principles has democratized investing to all Egyptians, illustrated by the fact that 87% of our users are first time investors, and can’t wait for what we have in store for the UAE,” said Salah Kaddoura, UAE General Manager at Thndr.