Egypts’s investment app, Thndr has raised $20 million in its Series A funding round, seeking to democratize investing in the Middle East and North Africa (MENA). This round brings the startup’s funding to a total of $22 million, to date.
Investors who took part in the funding round include Tiger Global, BECO Capital, Prosus Ventures, Base Capital, Endure Capital, 4DX Ventures, Raba Partnerships, and JIMCO.
The company says the funding will go toward product development and expanding its presence across MENA.
Thndr, launched in late 2020 is making it easier to open and manage investment accounts. Currently, users don’t have access to U.S. stocks. They can only use the platform to invest in the Egyptian stock market and mutual funds.
We’re excited to support the Thndr team as they make investing more accessible in Egypt and the MENA region. The market is lacking a low cost, easy to use platform for investing and saving, and we believe Thndr will deliver best-in-class customer experience as the platform scales.
Alex Cook, a partner at Tiger Global,
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