Egyptian Startup Thndr Expands to UAE with Category 3A License
The Egyptian startup Thndr has expanded its services to the United Arab Emirates (UAE) after acquiring a Category 3A license with retail approval from the Abu Dhabi Global Market's Financial Services Regulatory Authority.
Launched in 2020 by Ahmad Hammouda and Seif Amr after participating in the Y Combinator accelerator program based in Silicon Valley, Thndr is a digital investment platform. Initially, it offered users a commission-free mobile trading platform that facilitates investment in stocks, bonds, and funds.
In 2020, the startup became the first company to receive a brokerage license in Egypt since 2008.
The startup has now announced its entry into the UAE market following the acquisition of a Category 3A license with retail approval from the Abu Dhabi Global Market's Financial Services Regulatory Authority. Thndr will initially provide direct access to US-listed securities, including stocks, exchange-traded funds (ETFs), and fractional shares.
