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ComplyLaunch Customer Spotlight: Thndr

Start-Up Customer Stories

The democratization of the investment world is continuing with new, accessible technologies enabling consumers to become more financially savvy. As a result, what was once the preserve of the wealthy is now a viable option for the mass market — a vision Seif Amr and Ahmad Hammouda have been working on implementing in Egypt with their commission-free investment app, Thndr. 

As the first company to obtain a brokerage license from Egypt’s regulators in over a decade, the up and coming online investment platform is on the road to further success. 

Introducing Thndr

With a background in construction engineering, Amr entered the FinTech world through his position at an investment bank where he met his future business partner, Hammouda. In 2017, Amr was approached by Uber — a platform that had a significant amount of the Egyptian population as drivers at the time.

“Back then,” explains Amr, “life was not easy for Egyptians. Unemployment was high, living expenses were high, and there were very negative vibes all around. […] This was the strong message that made me make the shift because I was serving the wealthy at the bank but I wanted to make more of an impact in my society.” After making the move to Uber, Amr undertook various roles in the company’s operations and product teams before moving back to Egypt from Dubai in 2019 to commit to Thndr full time.  

Designed to make investing easy and accessible, Thndr’s vision is to make “what was once an exclusive service for the wealthy” available to all Egyptians by simplifying the process of opening and managing an investment account and “speaking in terms they actually understand”.

Lowering barriers for maximum impact 

“What I love about building Thndr is seeing the impact we’re having,” says Amr. “To open an investment account, historically you needed to have a certain amount of knowledge and a certain amount of money, but we’re breaking this all down.

“For the first time ever, as a normal Egyptian — regardless of where you live, regardless of your education — if you have access to a smartphone, that’s all you need to open an account with Thndr.”

By lowering the bar of entry to their commission-free investment app, Thndr has also become a gateway tool, helping to increase the financial literacy of its users — a tremendous move toward enhanced financial stability for thousands of people.  

IPO success

A further achievement owed to Thndr’s low barrier of entry, is the opportunity it has granted people to participate in initial public offerings (IPOs).

“In 2021, Thndr’s users accounted for 12% of those who submitted a retail order in the IPO of Egypt’s E-finance for Digital and Financial Investments,” says Amr. “And what struck us the most was who these people are — 60% of all those people who were in this IPO and coming in from our end, were people with ticket sizes of less than $500, which would typically be too low for you to open in any other institution. Without a doubt, this is our proudest achievement to date.

“Without Thndr, normal Egyptians wouldn’t really have such an opportunity.”

Expanding horizons

“What’s coming next for Thndr is regional expansion. We’ve started to lay down the foundations in Egypt, we’re seeing the impact we’re having, and we would like to see a similar impact beyond our borders in the future. 

“We also want to create additional products to serve different people. We already have Egyptian equities and we already have Egyptian mutual funds, but since it is a very nascent industry in Egypt we want to make sure we continue adding additional products that cater to the needs of different people.”

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Originally published May 10, 2022, updated May 10, 2022

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