Built from the questions, conversations, and needs we heard across our community, we’re excited to introduce the Thndr Zakat Calculator.
This Calculator has been reviewed and approved by Dr. Magdy Ashour, Former Scientific Advisor to the Grand Mufti of Egypt.
Last Ramadan, we noticed something important. Zakat questions kept coming up from our users. Not just as a general question, but as a real point of confusion:
- How do I calculate Zakat on stocks?
- Do savings products count?
- What about gold funds?
- What if my money is spread across multiple assets?
As more people began building wealth across different Thndr products, one thing became clear: calculating Zakat accurately can get complicated, and at times, overwhelming.
So we listened. And we built a simpler way to do it. At Thndr, we believe managing your finances should feel simple, and that includes fulfilling your religious obligations with confidence. That’s why we asked ourselves: what if Zakat calculation could be done easily, directly inside the app?
What is the Zakat Calculator?
The Zakat Calculator is a tool embedded within the Thndr app in My Hub that helps you calculate your Zakat based on Islamic principles. The best part? It automatically pre-fills your Thndr portfolio data, so you’re already halfway there before you even start.
How does it work?
Step 1: Open the Calculator
The calculator calculates based on the Hijri year by default. But if you are following the Gregorian year in your Zakat, just choose it, and we’ve got you covered.
The calculator shows you the current Nisab threshold (the minimum wealth required for Zakat) based on the latest gold price. This assumes that your reached the Nisab (your Hawl started) exactly one year ago.
Start your Hawl on a different date? You can customize this! Tap on today’s date to select when your wealth crossed the threshold. This also allows you to calculate Zakat for any past year, not just the current one.
Your Thndr wallet balance, Saving Clouds balance, and stock portfolio are already pre-filled for you to make your experience easier. You’ll just need to add assets you own outside Thndr.
Step 2: Add Your Assets & Liabilities
Enter your wealth across 8 categories, and don’t worry, your Thndr assets are already prefilled:
- Cash & Balances: Bank accounts, savings, physical cash
- Investments: Stocks & Mutual Funds
- Bank CDs: Certificates of deposit
- Gold: Coins, bars, or jewelry
- Silver: Coins, bars, or jewelry
- Real Estate: Properties you own
- Lendings: Money you’ve lent to others
- Business Assets: Inventory, receivables, business cash
- Debts: Money you owe (this reduces your Zakat amount)
Purpose-based Calculation
Different assets have different Zakat rules depending on their purpose. Be aware to enter the purpose for each investment, Thndr assets and external assets, in the calculator. The calculator guides you through the right treatment for each asset type.
Step 3: Get Your Result
Tap “Calculate Zakat” and instantly see your Zakat amount with a full breakdown. If your wealth is below the Nisab threshold, we’ll let you know that you’re not obligated to pay Zakat this year.
Features you’ll love
Custom Nisab Date — Set the exact date when your wealth first reached Nisab to calculate Zakat for any year — past or present.
Smart Pre-filling: Your Thndr investment wallet, Clouds savings, and complete stock portfolio are automatically imported. Just add assets held outside Thndr.
Purpose-Based Calculation: Different assets have different Zakat rules depending on their purpose. The calculator guides you through the right treatment for each asset type.
Hijri or Gregorian Year: Choose to calculate based on the Islamic lunar year (2.5% rate) or the Gregorian year (2.577% rate).
The preferred basis for calculation is the Hijri year. However, if someone needs to calculate using the Gregorian year, it is permissible.
Quick Facts
- Nisab Basis: 85 grams of 21K gold
- Zakat Rate: 2.5% (Hijri) or 2.577% (Georgian)
- Hawl Requirement: Your wealth must stay above Nisab for one full continuous year
Ready to calculate your Zakat?
Open the Thndr app and find the Zakat Calculator to get started. It’s the easiest way to fulfill your obligation while keeping all your financial data in one place.
For more details on how the amount is calculated, please visit the Zakat Calculator Support page.
Have Questions?
If you need any assistance, our in-app support team is ready to help. Just reach out, and we’ll guide you every step of the way!
Watch instead: A must-watch conversation with CEO Ahmad Hammouda and Amr El Alfy breakdown the GOUR IPO!
This is all you need to know about Egypt’s first IPO in 2026: The country’s leading premium grocer.
30 January 2026
Amr Hussein Elalfy*
The Story
Gourmet [GOUR] is one of Egypt’s most established food retailers, built around a simple idea: offering high-quality food to customers who care about what they consume. What began as a family-run business has grown steadily over time into a trusted brand, with a loyal customer base and a clear focus on quality rather than rapid, unfocused expansion.
The company serves a specific segment of consumers whose spending tends to remain more stable even during economic slowdowns. This positioning has helped Gourmet maintain resilience compared to more mass-market retailers that are more exposed to swings in consumer purchasing power.
A key part of Gourmet’s model is that it produces a meaningful portion of what it sells through its own food solutions arm. This gives the business greater control over quality, costs, and supply, while reducing exposure to imports. In a market where currency and supply-chain disruptions can be common, this level of control has become an important advantage.
Over the past two years, Gourmet has gone through a clear operational turnaround. After a period of losses, the company returned to profitability in 2024 and has continued to build on that momentum. Strong cash generation has allowed Gourmet to fund store expansion, invest in the business, and pay dividends without relying heavily on debt.
Looking ahead, Gourmet’s growth plans are focused and disciplined. The company intends to expand its store network in key areas such as East and West Cairo, operate larger and more efficient formats, and grow its in-house and private-label offerings. At the same time, loyalty programs and better use of customer data are expected to deepen engagement with existing customers.
With this IPO, Gourmet becomes the first food retailer to list on the main Egyptian Exchange. For investors, this provides differentiated exposure to Egypt’s consumer sector through a business with a strong brand, controlled growth, and a long-term mindset.
As with any investment, risks remain – including competition and the niche nature of the segment Gourmet operates in. That said, the company’s brand strength, control over its products, and consistent cash generation give it a solid foundation as it enters the public market.
The IPO
GOUR will go public on the main exchange through a public and private offering with the following details:
Source: Prospectus, Rumble Research
Shareholder Structure (Pre-IPO)
Source: Prospectus, Rumble Research
Shareholder Structure (Post-IPO)
Source: Prospectus, Rumble Research
Background
2006: A Premium Retail Brand Was Born
- GOUR was established in 2006, initially supplying high-end hotels and business clients in Cairo with quality meat and specialty food products. This early success led the company to open its first premium retail store in 2008, offering a curated selection of fresh, locally produced, and imported goods not commonly found in traditional supermarkets. Since then, GOUR has continued to grow while focusing on quality, reliability, and customer experience.
2015: Vertical Integration Strategy Adopted
- In early 2015, rising devaluation pressures on the EGP forced GOUR to pivot from importing and distributing final products to outsourcing and manufacturing. This shift introduced Gourmet Foods Solutions (GFS) to the market, a “Handcrafted by Gourmet” production line operating in two factories (kitchens), one owned and another leased.
2018: B Investments Steps In
- In 2018, EGX-listed B Investments Holding [BINV] acquired a significant stake in GOUR (40% initially) before increasing it through a follow-on capital increase (to 52.9%). This step reflected BINV’s confidence in GOUR’s business and its potential to grow as a leading premium food retailer in Egypt.
2020: The Up Spike
- Like basically all other businesses, GOUR’s nationwide expansion was disrupted by COVID-19 in 2020 which slowed momentum at first in its walk-in stores due to nationwide lockdown. However, the silver lining was for GOUR’s business to go online. Indeed, GOUR launched its digital app to cater to its clientele who preferred online shopping to in-store shopping. Also, the new app helped GOUR capture customer data and refine offerings personalization for customers.
- To capture growing demand, GOUR invested heavily in acquiring three delivery hubs around Greater Cairo to be closer to its customers. But after lockdown restrictions were lifted, customers began going back to in-store shopping. Thus, overspending resulted in losses in 2021 and 2022, having expanded aggressively in the delivery segment with revenues not picking up as fast as expected.
2022: The Turnaround
- GOUR’s shareholders, led by BINV, decided it was time to turnaround the business. In 2022, GOUR hired a veteran team led by Michael Wright with vast regional retail experience in the MENA region across many household names.
- Under the new management team’s oversight, revenue maximization and cost reduction measures helped restore profitability, delivering net profits of EGP31mn in 2023 and EGP135mn in 2024, with more than EGP200mn estimated in 2025. This turnaround story was driven mostly by organic growth with zero net additional stores in 2024 and 2025.
2026 & Beyond: The Next Chapter
- GOUR’s vision is to continue growing and unlocking additional value within its existing business. This will be done through two pillars:
- An organic pillar through increasing the retail area of existing locations to improve customer experience and support higher basket sizes and better traffic flow, while maintaining its premium positioning.
- Expanding its presence across East and West Cairo, while remaining open to selective opportunities in Downtown Cairo if attractive locations become available.
How GOUR Makes Money
Premium retailing, in-house products & e-commerce
- Premium Retailing
GOUR targets niche, higher-spending customers rather than competing with mass-market retailers, which limits direct competition. The company also operates three seasonal stores in the North Coast, supporting its geographic diversification and exposure to premium consumer demand. - In-house Products
Gourmet Food Solutions (GFS), a wholly owned subsidiary of GOUR, is its in-house food production and processing unit. GFS cuts the middle-man by making fresh and ready-to-eat products like sandwiches, bakery items, ready-to-eat meals, and salads. GFS provides its products to Gourmet’s stores, Gourmet’s online platform, and selected business clients. Regular retail products usually have a 20-30% gross margin, while Gourmet’s in-house and private label products have a higher margin of about 50% because they are exclusive and premium. - E-Commerce
GOUR’s e-commerce channel sells products directly to its customers on its website and mobile app. This online channel helps GOUR reach more customers who can make more orders from the comfort of their home, while GOUR uses the customer data to improve its product offerings. Today, e-commerce and call centers contribute about 35% of GOUR’s total sales with room to grow further.
GOUR in Charts
Source: B Investments Holding Earnings release, Rumble Research
Source: B Investments Holding Earnings release, Rumble Research
Source: B Investments Holding Earnings release, Rumble Research
Source: B Investments Holding Earnings release, Rumble Research
The Good
- First of its kind on the EGX
- Gourmet’s IPO marks the first time for the EGX to see a retailer in the F&B industry listed on the main exchange. For investors with an appetite for the retail business, their only available option is GOUR, especially given its much better margins versus regional peers.
- Operating in a segment with relatively inelastic demand
- GOUR operates within a niche market, targeting the affluent segment of the society. This helps smooth out any earnings volatility in the case consumer purchasing power softens. So, while some consumers may decide to shift from premium products toward more affordable alternatives, GOUR’s clientele is loyal in view of its premium-quality products and minimal impact on their spending habits despite any economic downturn.
- Asset-light, lease-based business model
- GOUR’s lease-led expansion strategy lowers upfront capital requirements per store, supporting an average rollout of 2–3 stores annually. The company targets store sizes of at least 800 sqm. Fit-out costs average EGP60–80mn per 1,000 sqm (implying a cost of EGP60-80k per sqm).
- However, in mall locations, GOUR typically bears around half of that cost, with landlords funding the rest. This is because GOUR has become a partner of choice for many real estate developers. This allows GOUR to expand more rapidly and achieve attractive returns for new stores.
- For instance, the last 2 stores GOUR opened had a payback period of 1 year.GOUR’s lease tenors average nine years which enhances cash flow visibility. Leases entered into with real estate developers usually have both fixed and variable components. The fixed component is a minimum guarantee lease payment, which is fairly easily surpassed by the variable component (a revenue share model).
- Vertical integration driving margin resilience
- Logistics & supply chain risk management: Given that GFS primarily serves GOUR, the company maintains tight control over inventory levels, reducing reliance on external suppliers. This vertical integration has supported higher inventory turnover ratio relative to peers.
- Limiting imports: GOUR’s transition toward local manufacturing reduced FX-related cost pressure while preserving its premium positioning, boding well for margins.
- Outsourcing equipment: For products requiring specialized, capital-intensive equipment, GOUR outsources production through rented manufacturing lines at third-party facilities. This strategy supports higher profitability while hedging against changes in consumer demand.
Source: Koyfin, Rumble Research
- Sustainable cash flows with high earnings visibility
- Short payback period: GOUR’s new stores benefit from a short payback period, typically recovering their investment in less than one year. This demonstrates how the company uses its capital efficiently and ensures that new stores will be cash flow positive quickly. This highlights the resilience and attractiveness of GOUR’s business model.
- Short cash conversion cycle: GOUR operates with a negative cash conversion cycle (CCC) of around 2 days. With more than 50% of sales paid using credit cards, GOUR receives cash from customers before supplier payments are due. This enables the company to fund expansions internally without having to resort to a high level of leverage while also paying cash dividends.
- Experienced management and an active institutional shareholder
- GOUR’s new management team has turned two years of losses into a profitable business. The management team behind this turnaround story, led by Micheal Wright, comes from a regional retail background with a strong track record in many household names, including Bin Dawood in Saudi Arabia and Spinneys in the UAE, Qatar, Egypt, and Lebanon.
- The management team brought onboard by BINV is contracted to remain with GOUR through 2027. However, there is a 5-year ESOP program (expected to be around 5% of GOUR’s shares) that will help retain the management team and other key members within GOUR through 2030.
Key Risks
- Limited and niche market segment
- GOUR’s market share remains limited within Egypt. With projected 2025 revenues near the EGP3bn mark, GOUR’s market share in Egypt’s F&B segment could be well below 5%. GOUR’s total available market (TAM) is constrained by its premium business model targeting quality-conscious consumers, limiting its audience to those with higher purchasing power.
- Limited access to digital retail channels
- Lately we have seen logistics companies offer groceries through their digital channels, like Talabat and Instashop. These companies would definitely expand GOUR’s reach, yet they only contribute around 5% of revenues–a strategic decision by GOUR to safeguard its profitability margins.
- On the other hand, online competition is intensifying. For instance, Breadfast, Egypt’s largest digital food and beverage retailer, could represent a key online competitor to GOUR. Breadfast operates through a fully-digital model, with no physical retail stores, selling exclusively through its mobile application and supported by its own network of delivery hubs.
- Similar to GOUR, Breadfast has developed product lines under the “Made by Breadfast” brand, while also selling white-label products for third parties for higher margins, a model GOUR does not follow. Both companies rely on owned delivery infrastructure to control quality and fulfillment.
- A limited number of SKUs
- The average stock keeping unit (SKU) for the retail businesses in Egypt is usually between 50,000-60,000 SKUs. GOUR has an estimated total of 11,000 SKUs, with 1,200-1,500 SKUs exclusive private labels made by Gourmet.
- This is a key risk because a limited product range deprives customers from variety which can lower the value of each shopping basket.
- Indirect FX exposure but manageable
- GOUR does not have direct exposure to FX as it imports its products from local suppliers. However, GOUR is somehow exposed to a stronger FX rate which could make its imported products more expensive for certain customers. This is quite important absent any FX inflows.
- However, the fact that GOUR operates in a niche market segment that is less vulnerable to a weaker local currency helps mitigate such risk.
- Also, GOUR’s product positioning allows it to pass on higher costs to consumers, though this may weigh on volumes.
Investment Catalysts
- Active shareholder with clear value-creation agenda
- BINV, the company’s major shareholder, still sees untapped potential growth for GOUR. Indeed, BINV expects GOUR’s revenues to double in the next three years, further expanding its market share.
- This is evidenced by BINV’s strategic decision to only undertake a partial exit on only a quarter of its holding (13% of its 53% stake). This should assure new GOUR investors that at some point of time in the future BINV will be looking to monetize its remaining 40% stake at a higher valuation level.
- In other words, BINV is GOUR’s active investor looking to maximize shareholders’ value.
- Successful execution of store expansion plan
- More stores down the aisle: GOUR’s expansions will mainly be in East and West Cairo, currently preparing two stores (potentially three stores) for 2026.
- The G17 store is destined to start operations after Ramadan, while the Midlane is expected to start operations after summer between September and October 2026.
- These new stores will attract more consumers, driving revenue growth further and hence profitability driving growth.
- Bigger space stores: While it was the management’s strategy to increase the number of stores, it’s also their plan to increase their sizes. Having bigger stores allows GOUR to have its kitchen/bakery in the same location, thus minimizing costs. Also, in big stores they have opportunities to innovate and increase their services.
- This aligns with GOUR’s strategy to maintain its geographic footprint as they plan to replace small size stores with larger ones of at least 800 sqm at the same locations.
- Anchoring customers through loyalty programs
- Loyalty programs: GOUR’s loyalty program helps the company build stronger relationships with customers by encouraging repeat purchases and higher visit frequency. It also allows GOUR to collect valuable data on shopping behavior, which can be used to improve product selection, pricing, and promotions.
- Over time, this supports more stable revenue, better inventory planning, and more efficient marketing spend.
Mobile network partnerships: GOUR’s partnership with Orange has been positive, increasing sales without any expenses. Orange provided its Premier clients discounts at GOUR stores through their collaboration. - This brings more customers without increasing selling and marketing expenses.
- Consistent cash dividend payout down the road
- Unlike a few years ago, GOUR’s business model displays today high cash flow visibility. This could mean there will be potential dividends payouts. GOUR’s management intends to pay out dividends in the range of 50-75% of net income.
- An acquisition target by financial or strategic investors
- With BINV retaining a 40% stake in GOUR, this opens the door for potential M&A deals involving GOUR. BINV will be looking to exit GOUR at one point of time in the future, and ideally they will be doing so at a valuation higher than the IPO price, which would act as a floor, in our opinion. This will help the stock re-rate higher after listing.
* Helped in writing this article: Abdelkhalek Mohamed, Equity Strategist and Karim El-Ghazaly, Equity Strategist.
]]>24 January 2026
Amr Hussein Elalfy
Almost 30 years ago, I had a discount brokerage account in the United States, through which I traded US stocks. One day, I received a communication message from my broker giving me the option to choose between several money-market funds that they offered. Two facts stood out to me at the time:
- The promised net asset value per fund share of these funds was USD1 at the end of every day as interest is usually distributed as more fund shares.
- The fund share may lose value because it is cash-like but not exactly cash because it is always marked to market on a daily basis.
In the United States, money-market funds usually invest in US Treasury bills, government agency securities, commercial paper, and bank certificates of deposit (CDs)—with an average maturity usually under 60 days. However, in Egypt, money-market funds are different, and so are fixed-income funds.
Here is what you need to know before investing your hard earned money in either money-market or fixed-income funds.
Fixed income for diversification
In our Egypt – 2026 Fundamental Strategy Series, we highlighted that it is important for investors to diversify their portfolios between three main asset classes:
- Equity
- Fixed income, and
- Gold.
In doing so, we recommended three strategic asset allocations (SAA) for each asset class depending on each investor’s risk profile, whether conservative, average, or aggressive. The more conservative investors are, the more weight they should have in the fixed income asset class. For the recommended weights for each risk profile, please read our Egypt – 2026 Fundamental Strategy Series.
In Egypt, fixed income instruments can range from banks’ CDs and time deposits to Treasuries, which investors can buy from banks. The only trick here is that it is not as easy to exit without losing some interest. This is where money-market and fixed-income funds come into play.
But let’s first define what money-market and fixed-income funds are.
What are money-market and fixed-income funds?
Money-Market Funds
These are designed to help investors park their cash while earning a return. They invest in short-term instruments, such as Treasury bills and bank deposits, with maturities of less than one year. These funds offer high liquidity and relatively stable performance, making them suitable for short-term savings and cash management rather than long-term investing.
Fixed-Income Funds
These invest in longer-term debt instruments, including government bonds, floating-rate notes, corporate bonds, and sukuks. Because these instruments are sensitive to changes in interest rates, the value of fixed-income funds can rise or fall over time. These funds are suitable for investors seeking higher returns (vs. money-market funds) and willing to accept price fluctuations over a medium- to long-term horizon.
Choosing between money-market and fixed-income funds?
For investors to choose between money-market and fixed-income funds, it is best to compare them given their different attributes, which we summarize in the below table from an investor’s and a fund’s view:
| Attribute | Money-Market Fund | Fixed-Income Fund |
| An investor’s view | ||
| Investing purpose | Liquidity parking | Yield / macro positioning |
| Typical holding period | Days to months | 1 to 5+ years |
| Return | More stable, more predictable | Less stable, less predictable |
| NAV volatility | Very low | Low to moderate, can be material |
| Income main source | T-bill yield | Coupons + capital gains |
| A fund’s view | ||
| Duration (interest rate sensitivity) | Lower | Higher |
| Interest rate decisions by CBE | A more quickly impact | A delayed impact |
| Reaction to rate hikes | Less negative | More negative |
| Reaction to rate cuts | Less positive | More positive |
| Fund holdings & maturity |
|
|
| Revaluation frequency (more on fund revaluation below) | Daily (marked to market) |
|
Source: Rumble Research
What does “fund revaluation” mean?
In calculating the fund’s net asset value (NAV), fixed-income funds tend to reevaluate their holdings depending on the accounting treatment applied to the securities they hold.
For instance:
- Instruments classified as held to maturity (HTM) are carried at amortized cost and are therefore not impacted by daily market price movements
- Securities measured at fair value or marked to market (MTM) are revalued periodically and reflect changes in interest rates and market conditions.
For valuation purposes, liquid securities are typically priced using the average traded price of the day, while illiquid instruments are valued using the last available transaction price—all quoted on the Egyptian Exchange.
Although certain provisions, such as accrued expenses or tax-related items, are purely accounting entries and do not negatively affect NAV, they often have a slightly positive impact through income accrual.
Reevaluation, on the other hand, is triggered either by regulatory requirements, as IFRS mandates periodic fair-value assessment, or by practical considerations, such as increased redemption activity that necessitates greater liquidity and may force a reclassification from HTM to MTM.
Mark-to-market valuation is particularly favorable in a declining interest rate environment, as bond prices rise, and it also gives fund managers greater flexibility to actively trade and realize capital gains.
The bottom line
In a nutshell:
- Money-market funds are cash-management tools with minimal duration risk (interest rate risk), while
- Fixed-income funds are rate-sensitive investment vehicles whose returns depend heavily on the interest-rate cycle and bond price movements.
If you are an investor with a short-term investment horizon and looking to park some cash on the sideline, then money-market funds are for you.
On the other hand, if you are an investor with a long-term investment horizon and looking to generate higher returns over time, then fixed-income funds are for you but you need to keep in mind that fixed-income funds are more volatile when it comes to the impact of revaluation which is usually positive when interest rates decline and negative when interest rates increase.
In view of the current easing cycle by the Central Bank of Egypt (CBE), long-dated debt securities should benefit the most. Thus, fixed-income funds will be more positively impacted by lower interest rates as opposed to money-market funds.
On Thndr, there are currently a total of 10 fixed-income funds that can be split between money-market funds and fixed-income funds, which you can choose from to match your profile:
| Money-Market Funds (Asset Manager) | Fixed-Income Funds (Asset Manager) |
| 1. ADM – Diamond Fund (AAIM) | 1. ABR – Bareeq (AAIM) |
| 2. ATD – Al Ahly Tamayoz Dividends (AFIM) | 2. BSC – B Secure (Beltone) |
| 3. AZN – AZ Nasser Fund (Azimut) * | 3. AIS – Istithmar wi Aman (AAIM) |
| 4. AZS – AZ Savings Fund (Azimut) | |
| 5. MTF – Misr Takaful Fund (AAIM) * | |
| 6. PCM – PFI Cashi Fund (PFI) | |
| 7. PGM – GIG Money Market (PFI) |
* Sharia compliant
Source: Thndr
]]>Want a chance to attend the biggest football tournament in Africa’s quarter finals this year, with a friend? This might just be it. Saving is always about a goal, and most times our goals are built around doing more, whether it’s something you want to do, see, or experience.
Thndr is turning disciplined saving into the ultimate football fan experience. We’re launching a special competition where you can save towards a goal and get a shot at winning a trip for you and a friend to attend the biggest African football tournament quarter-final match in Morocco.
Match ready? Here’s how to Enter:
To enter the competition, you need to participate with a friend. Entries are only valid in pairs.
Here’s what both of you need to do:
- Create a Thndr account & fund your account [If you haven’t yet]
- Create a Savings Cloud named AFCON or أمم أفريقيا
- Fund your AFCON Savings Cloud with at least 1,000 EGP
- Keep at least 1,000 EGP saved until January 1st, 2026 at 11:59 PM
Once both of you complete these steps, you’re officially entered into the draw!
If either person doesn’t complete the steps or lets their balance drop below 1,000 EGP before the cutoff, both entries will be disqualified.
What could you win by entering?
We’ll select people through a random draw on January 2nd, 2026.
Each winning pair receives:
- Two tickets to the Quarter-Final (January 10th) in Marrakech
- Round-trip flights to Morocco
- Accommodation for the match experience
When & what you need to know:
On January 2nd, we’ll reach out to the winners directly by phone and email to let them know they’ve been selected.
Since this is a competition that rewards the effort you and your friend put in, we’ll ask you for:
- Your plus-one’s Thndr username
- Your plus-one’s full name
- Both of your Fan IDs, which need to be created & verified through the Yalla app, by the time of our call
- We’ll then do a quick check to confirm that your friend has also met all the requirements – created their own AFCON Savings Cloud, and has at least 1,000 EGP saved until the cutoff.
Once that’s confirmed, the win is locked in for both of you!
Important: If you’re selected and you’ve met the criteria, but your plus-one hasn’t, the win won’t go through for either of you. This is a pair competition – you win together or not at all
On the bright side, that also means your chances are doubled: two people saving, two entries, one shared goal
Key Dates to Know
- Entry period: Friday, December 26, 2025 (7:00 PM) – Thursday, January 1, 2026 (11:59 PM)
- Eligibility check & draw: Friday, January 2, 2026
- Trip: Thursday, January 8 – Monday, January 12, 2026
- Quarter-final match: Saturday, January 10, 2026 – Stade de Marrakech
Terms & Conditions
Competition Period
- The competition runs from Friday, December 26, 2025, at 7:00 PM until Thursday, January 1, 2026, at 11:59 PM (Cairo time).
Eligibility
- The competition is open to eligible Thndr users who complete all required competition steps
- Participants must be legally eligible to travel
- Participants must hold a valid passport at the time of winner confirmation & until the date of return, in order to be eligible to win.
- If a selected winner or plus-one is 18 years old or younger, written guardian consent will be required to travel and receive the prize
- Thndr reserves the right to exclude any entry that is duplicate, fraudulent, or in violation of Thndr policies
Winner Selection
- Winners will be selected through a random draw from all eligible pairs after the competition cut-off
- If a selected winner or their plus-one is found to be ineligible, Thndr will select an alternate winner
Winner Notification
- Winner selection and confirmation calls will take place on Friday, January 2, 2026.
- Winners will be contacted by phone, followed by email, using the contact details registered on their Thndr account
Winner Verification & Response Timelines
- Verification window: Winners (and their plus-one) must provide all required documents by the end of the day on Friday, January 2nd.
Failure to do so will result in forfeiture of the prize and selection of an alternate winner. - Reachability: If a winner cannot be reached within 4 hours (starting 2:00 PM), Thndr reserves the right to select an alternate winner
- Identity match: Names provided must match passport details exactly. Any mismatch may result in disqualification or the inability to issue flights or match tickets
Prize Details
- Each winning pair will receive:
- Two tickets to the Quarter-Final (January 10th) in Marrakech
- Round-trip flights
- Accommodation for the match experience
- The prize is non-transferable and cannot be exchanged for cash.
- Failure to provide required travel documents (including a valid passport and, where applicable, guardian consent) will result in disqualification
Prize Inclusions & Exclusions
The prize does not include:
- Meals and daily expenses: Food, drinks, and snacks are not included
- Local transportation (unless explicitly stated)
- Visa fees
- Travel insurance (unless explicitly stated)
- Personal spending, extra nights, or room upgrades: Any personal expenses (shopping, SIM cards, roaming, tips, entertainment, etc.) are the responsibility of the winner/plus one
- Any costs resulting from missed flights, late arrivals, or no-shows
Disqualification
You (or your plus-one) may be disqualified if:
- The Savings Cloud name is not exactly “AFCON” or “أمم أفريقيا”
- The funded amount is less than EGP 1,000 at the competition cut-off
- You fail to provide a valid passport or required guardian consent
- You fail to provide the required travel documents (including a travel permit if requested)
- The entry is duplicate, fraudulent, or violates Thndr policies
- You fail to provide a working Fan ID code to be able to complete the purchase of game tickets
General
- Winners (and plus ones) are responsible for having the required travel documents, as well as any travel permits or guardian consent forms
- If required documents can’t be provided within the needed timeline, Thndr may select a replacement winner
- Thndr reserves the right to amend, suspend, or cancel the competition if required for operational or legal reasons
- By entering the competition, participants agree that Thndr may contact them regarding competition participation and prize fulfillment
- No cash alternative: The prize is non-transferable and cannot be exchanged for cash or other alternatives
- No third-party substitution: The plus one must be eligible as per competition rules and verification. Substitutions are not permitted
- Winner responsibility: Winners are responsible for their own health, safety, and behavior during travel
- Provider terms apply: The prize is subject to the terms and policies of airlines, hotels, and ticketing providers
Travel & Entry Requirements
- Visa responsibility: Winners and plus-ones are responsible for obtaining any required visas or entry permits. If a visa is denied or delayed, the prize may be forfeited and no cash alternative will be provided
- Entry refusal: If travel or entry is refused by any authority (including airlines or immigration), Thndr will not be held responsible and the prize may be forfeited
- Health requirements: Winners and plus-ones must comply with all applicable health and vaccination requirements for travel, where relevant
- Fixed travel dates: Travel dates and itinerary are fixed. Any changes, if permitted, will be subject to availability and may be at the winner’s expense
- Male winners/plus ones: May be asked to provide a valid travel permit (military-related) if required for travel
- Flight attendance: The winner and plus one must travel on the flight itinerary shared by Thndr
- Missed flights: If the winner or plus one misses any outbound or return flight for any reason (including late arrival, missed check-in, denied boarding due to documents, personal scheduling, etc.), Thndr bears no responsibility for rebooking, alternative travel, accommodation, or any related costs. All such costs are the winner/plus one’s responsibility
- Airline changes: Flight schedules and routes may change due to airline operations. Thndr is not responsible for airline delays, cancellations, or rescheduling beyond Thndr’s control
Transportation
- Local transportation: Local transportation costs (including but not limited to taxis, ride-hailing, public transport, intercity travel, and match-day commuting) are the responsibility of the winner/plus one
- Delays due to personal actions: Any additional transportation costs caused by personal delays, missed meeting points, or itinerary changes are the winner’s responsibility
Accommodation
- Room type: Accommodation will be booked as double-occupancy rooms for each winner and their plus one (one room per pair)
- Hotel policies: Hotels may require separate rooms in certain cases (including but not limited to mixed pairs or based on local policies and availability). If separate rooms are required, any additional room cost or upgrade cost will be paid by the winner/plus one
- Changes or upgrades: Any request to change, extend, upgrade, or replace the accommodation (including changing hotel, room type, dates, or adding guests) is at the winner’s own cost and responsibility, and is subject to hotel availability and policies. Thndr is not responsible for any costs, penalties, or losses arising from such changes
- Incidental charges: Any hotel incidentals (including but not limited to minibar, room service, damages, fines, late check-out, extra guests, or additional bedding) are the responsibility of the winner/plus one
Conduct & Liability
- Conduct: Winners and plus ones must comply with all local laws, venue rules, airline rules, hotel policies, and reasonable instructions from Thndr
- Liability: To the extent permitted by law, Thndr is not liable for injury, loss, theft, delays, cancellations, or failures caused by third-party service providers (including airlines, hotels, or event organizers)
- Misconduct costs: Any misconduct resulting in fines, penalties, damages, legal issues, or additional charges (including hotel damages, stadium penalties, or transport penalties) will be paid by the winner/plus one. Thndr is not responsible for these costs
- Removal from the experience: Thndr reserves the right to remove a winner/plus one from the trip or experience for serious misconduct or safety reasons. In such cases, all resulting costs are the responsibility of the winner/plus one
Force Majeure & Operational Changes
- Event or travel changes: If the match date, venue, or travel arrangements change, or if the event is canceled due to circumstances beyond Thndr’s control, Thndr may substitute the prize with a comparable experience or cancel the prize, with no cash compensation
- Supplier constraints: Flights, accommodation, and ticketing are subject to availability. Thndr’s selections and booking decisions are final
Lost Items / Baggage
- Baggage issues: Thndr is not responsible for lost, delayed, or damaged baggage or personal belongings. Claims must be raised directly with the airline, hotel, or relevant provider
- Valuables: Winners are responsible for safeguarding passports, cash, and valuables at all times
Pairing & Substitution
- No substitution: Once the winner and plus-one are confirmed and bookings have begun, substitutions are not permitted
- Shared disqualification: If either the winner or their plus-one is found to be ineligible at any stage, the entire pair will be disqualified and an alternate winner may be selected
- Reachability: If a winner cannot be reached within 4 hours (starting 2:00 PM), Thndr reserves the right to select an alternate winner
- Visa responsibility: Winners and plus-ones are responsible for obtaining any required visas or entry permits. If a visa is denied or delayed, the prize may be forfeited and no cash alternative will be provided
- Fan ID: Winners and plus-ones are responsible for creating their own Fan IDs provided on the official Yalla App
Content Capture & Rights
- Filming/photography: By accepting the prize, winners and plus ones agree that Thndr may film and photograph content during all trip days and in multiple settings, including but not limited to: airports, transport, streets, hotels (public areas), restaurants, and inside/around the stadium, subject to venue rules
- Usage rights: Winners grant Thndr the right to use captured content (photo/video/audio, name and likeness) for Thndr marketing and communications across all channels (including social media, website, CRM, PR, and community) without additional compensation
- Participation requirement: If a winner or plus one refuses reasonable participation in filming/photography during the experience, Thndr may treat this as failure to meet prize requirements and may select a replacement winner
This competition is officially approved by the Consumer Protection Authority under the #501 for the year 2025.
Cairo, Egypt – December 2025
Thndr, Egypt’s leading digital investment platform, announced today that it has obtained Asset Management and Portfolio Management licenses from the Financial Regulatory Authority (FRA). This milestone marks a significant expansion of Thndr’s ability to design and manage investment products built first and foremost for everyday individuals, rather than the institutional-first products that have traditionally dominated the market.
The licenses represent the next chapter in Thndr’s mission to make wealth-building simple, accessible, and affordable for all. Today, more than 431,000 Egyptians invest in mutual funds through Thndr, making it one of the country’s largest digital distributors of professionally managed investment products. With the new approvals, Thndr will begin creating its own suite of funds that are digital, transparent, low-cost, and tailored to real financial goals. The company plans to launch the first Thndr-managed funds in 2026.
Thndr’s movement into providing access to mutual funds four years ago was rooted in a clear insight: many people want to benefit from investing, but do not have the time or expertise to manage their portfolios day to day. Mutual funds effectively allow individuals to hand their money to a licensed, regulated expert who manages it alongside hundreds of millions – and sometimes billions – on their behalf. Since introducing access to these products, Thndr has seen exceptional growth that reflects a major shift in how Egyptians are choosing to save and invest. Mutual fund assets on the platform have reached EGP 8 billion as of November 19, 2025, up from EGP 575 million in January 2024 and EGP 1.2 billion in November 2024. Participation continues to grow across gold, fixed-income, and equity strategies, with gold funds such as AZG attracting more than 110,000 investors, while Thndr’s own fixed-income solution, Savings Clouds powered by a mutual fund, has scaled to EGP 2.46 billion. Over the past year, Thndr has also expanded its fund marketplace from 12 to 30 products, becoming one of Egypt’s most diversified platforms for everyday investors.
This momentum underscores a rising demand for simple, transparent, and professionally managed investment tools that align with real-life goals. By securing FRA asset management licenses, Thndr is now positioned to build the next generation of these products directly, and to do so with a retail-first lens that prioritizes accessibility, affordability, and ease of use.
Leading this strategic expansion is Dalia Shafik, appointed Head of Asset Management. With more than two decades of experience managing some of Egypt’s most successful funds, Shafik will oversee the development, governance, and operations of Thndr’s upcoming investment products.
“Mutual funds in Egypt have historically been built with institutions as the primary customer,” said Ahmad Hammouda, Co-founder and CEO of Thndr. “Over the past five years, we worked alongside existing asset managers to democratize access to these products digitally and give everyday people the same opportunities as institutions. Securing these licenses is the natural next step. It allows us to build funds designed for individuals from day one. Thndr is on a mission to offer the best investment experience at the lowest price to every person, and this milestone brings us one step closer to achieving that.”
“Thndr has already proven that retail investors want simple and powerful tools,” added Shafik. “Our next chapter is about designing those tools ourselves and ensuring they reflect people’s actual needs and goals.”
Thndr’s expansion into asset management builds on several years of market leadership. In 2024, the company executed 15.6 million trades worth EGP 174 billion, captured 11 percent of Egypt’s retail market share, and onboarded 82 percent of all newly coded retail investors into the Egyptian Exchange (EGX). With more than 4 million registered users, Thndr remains the country’s most inclusive digital gateway to investing.
About Thndr
Thndr is one of MENA’s first fully digital investment platforms, simplifying and democratizing investing for over 4 million users. The platform empowers investors through access to Egyptian stocks, gold, mutual funds, and savings products. Founded in 2020 by Ahmad Hammouda and Seif Amr, Thndr secured the first brokerage license issued in Egypt since 2008 and currently holds regulatory licenses from both the FRA (Egypt) and ADGM (UAE). To date, Thndr has raised a total of $37.76 million from global venture capital firms including Tiger Global, Prosus Ventures, BECO Capital, and Y Combinator. For more information, visit https://Thndr.app.
]]>Through our week-long “Buy what you need, and invest the rest” campaign — running from November 25 to December 2 — we’re unlocking an EGP 5,000,000 reward pool to encourage intentional investing, not emotional spending.
If this already grabbed your attention, opt here, and read more below on the why, how, and when.
While the world rushes to spend this Black Friday, we’re asking people to think differently.
In a week that usually pushes you to buy more, faster, and under pressure, we’re choosing a different narrative — one that gives you space, time, and a chance to grow your money instead of giving it away.
This isn’t just another Black Friday offer. It’s a statement about how we believe money should work for you — not the other way around.
Here’s everything you need to know:
The Short Version
You deposit money → you get rewarded for it.
To get your slice of the EGP 5M reward pool:
- Make any “Eligible Deposit*” between 8:00 PM on Nov. 25 and 8:00 PM on Dec. 2, 2025
- Earn a 5% reward on your cumulative Eligible Deposits
- Rewards are first-come, first-served until the EGP 5M runs out
What Counts as an “Eligible Deposit”?
An Eligible Deposit is fresh money coming into your Thndr account — not money recycled from withdrawals or sell orders.
It must:
- Increase your total net deposits compared to 1 day before the campaign
- Not be funded by withdrawals made in the 1 day before the campaign
Example: You had EGP 100,000 in lifetime net deposits 1 day before the campaign.
You deposit EGP 50,000 during the campaign → your lifetime net deposits become EGP 150,000. Only the new 50,000 EGP investment is eligible.
Not eligible: You withdrew EGP 100,000 shortly before the campaign, then deposited EGP 200,000 during it. Only EGP 100,000 qualifies.
How to Lock In Your Slice
Rewards are assigned on a first-come, first-served basis.
What matters is when you hit “deposit” in the app — not when the money arrives.
How Much Can You Earn?
Opt in any time starting from 8:00 PM Nov. 25 and before 8:00 PM on Dec. 2, 2025.
You’ll earn 5% on your cumulative Eligible Deposits, up to EGP 10,000 per person.
- Deposit EGP 200,000 → Earn EGP 10,000
- Deposit EGP 500,000 → Still EGP 10,000
The pool: EGP 5,000,000.
When it’s gone, it’s gone.
No Minimum. Just Momentum.
Deposit whatever amount you can. Every bit counts.
All deposit methods are eligible: InstaPay, Vodafone Cash, bank transfers, cash top-ups, and debit cards.
When You’ll Know
On the evening of Dec. 2, after the campaign closes at 8:00 PM, you’ll receive:
- A confirmation if you qualified
- The exact amount you’ll receive
- When it will land in your Thndr wallet
Straightforward. No extra steps.
No Gaming the System
Withdraw → deposit → repeat won’t count.
Suspicious behavior may disqualify you.
Fresh money only. Real intent only.
The Bottom Line
Black Friday doesn’t need to be about consuming more — it can be about doing more with your money.
This campaign is about shifting the mindset from spending to growing, from impulse to intention, from buying what’s on sale to building what’s yours.
This week, you get the chance to choose differently.
We’re here to reward that choice.
Terms & Conditions
General Information
How do I register for a slice of EGP 5 million in the Thndr Nov. ‘25 Black Friday Reward Campaign?
There are two simple steps to registering. New and current Thndr clients can register by:
Step #1: Opt into the campaign’s opt-in form before the campaign ends (08:00 PM Dec. 2, 2025). You must register with the same email address as your Thndr account.
Step #2: Make an “Eligible Deposit” of any amount into your Thndr account starting at 08:00 PM on Nov. 25, 2025, until 08:00 PM on Dec. 2, 2025.
What is an “Eligible Deposit”?
An Eligible Deposit is any external cash inflow made into a client’s Thndr account within the official campaign window (starting 08:00 PM on Nov. 25 until 08:00 PM on Dec. 2, 2025) that represents net new funds entering their account.
Funds must be transferred from a bank account or wallet under the same client’s name.
Funds cannot be proceeds of any sell order or withdrawal made in the 3 days preceding the deposit.
Funds must increase the client’s total net deposits (cumulative external inflows minus total withdrawals) compared to their balance as of the start of the campaign.
Example of Eligible Deposit:
Lifetime net deposits: EGP 100,000 → Deposit EGP 50,000 → New lifetime net deposits = EGP 150,000.
Example of Ineligible Deposit:
Withdraw EGP 100,000 before the campaign → Deposit EGP 200,000 during it → Only EGP 100,000 counts.
How do I confirm that I’ve registered?
You’ll receive a confirmation email at the address we have on file.
How do I win a slice of the EGP 5 million reward?
The reward is assigned on a first-come, first-served basis.
Clients who submit a deposit request earliest are given priority until the EGP 5 million pool is fully allocated.
The timing is based on when the deposit request is created, not when the funds settle.
How much of the EGP 5 million reward pool can I win?
Each client’s slice is capped at EGP 10,000, at a rate of 5% of their cumulative Eligible Deposits.
- Deposit EGP 200,000 → Potential reward: EGP 10,000
- Deposit EGP 500,000 → Potential reward: EGP 10,000 (cap)
Funding and Eligibility
Is there a minimum amount I must deposit?
No minimum. Deposit any amount.
What if I withdraw then re-deposit?
Withdrawals made before or during the campaign reduce your eligible amount.
Suspicious or looping activity may lead to disqualification.
Which transfer methods are eligible?
All deposits via:
- InstaPay
- Vodafone Cash
- Bank Transfers
- Cash Top-Ups
- Debit Cards
Only deposits in the Egyptian market are eligible.
Receiving the Reward
Will I receive updates?
Yes. You will be notified on Dec. 2 evening (after 08:00 PM) whether:
- You qualified
- How much will you receive
- When will it hit your Thndr account
Are there any tax implications?
No. If you win EGP 10,000, you receive EGP 10,000.
What happens if the remaining reward pool is less than what someone is owed?
Thndr will extend the reward pool only to ensure the final eligible user receives their full 5%.
After that, no more funds will be awarded.
Cairo, Egypt –July 2,2025 – Thndr, MENA’s leading digital investment platform, has been named to the World Economic Forum’s 2025 Technology Pioneers list — a prestigious recognition of the world’s most promising and impactful early-stage companies. Thndr is the only company from Egypt, one of only two Arab companies selected, and the sole representative from North Africa in this year’s cohort. The recognition further cements Thndr’s position as a regional leader in fintech innovation and follows its participation as a Hub71 company, the global tech ecosystem based in Abu Dhabi.
As part of the Technology Pioneers community, Thndr will engage in a two-year programme alongside other pioneering companies that are helping shape the future of global industries. The programme connects selected startups to the World Economic Forum’s platforms, initiatives, and multi-stakeholder network — enabling them to contribute to global conversations on financial inclusion, innovation policy, and digital economy transformation. Thndr will also participate in the Annual Meeting of Innovator Communities, taking place December 3 – 4, 2025, New York, USA — a key Forum event focused on innovation, entrepreneurship, and frontier technologies.
Now in its 25th year, the Technology Pioneers programme celebrates start-ups with breakthrough innovations poised to positively shape the future. Alumni of the community include global trailblazers such as Google, Dropbox, PayPal, and SoundCloud. This year’s 100-member cohort spans 28 countries and a broad range of frontier technologies — from AI-driven agriculture to quantum computing and asteroid mining.
Founded in 2020, Thndr has become a standout in MENA’s fintech landscape, making investing accessible, intuitive, and locally relevant for millions. The platform offers a wide range of financial products — including stocks, gold, mutual funds, and savings — along with educational tools and flexible funding options that empower everyday individuals to take control of their financial future.
In 2024, Thndr maintained its position as the leading retail brokerage on the Egyptian Exchange (EGX) for the third year running, recording more than EGP 174 billion in traded value. The company accounted for 82% of all newly coded investors on the EGX, and captured 11% of Egypt’s total retail market share by trading volume. With a growing user base of over 4 million, Thndr has seen significant traction beyond major cities, with 40% of users now coming from underserved geographies. The company has also made strides in financial inclusion, increasing female investor participation from 3% to 12% over the past few years.
“It’s a proud moment for us to be recognized by the World Economic Forum,” said Ahmad Hammouda, Co-Founder and CEO of Thndr. “From day one, we’ve believed that access to investing should be a right, not a luxury — and we’ve built Thndr with that mission at the center. To see our work recognized on a global stage, alongside companies that have gone on to reshape industries, is incredibly meaningful. It fuels our belief that the Middle East and North Africa can be a global hub for financial innovation — and we’re just getting started.”
The recognition comes as Thndr continues to scale across the region, expand its product offering, and drive financial empowerment in markets often underserved by traditional financial institutions. Through its participation in the Technology Pioneers community, Thndr will share insights, collaborate with global leaders, and help shape the future of inclusive finance in emerging markets.
Dubai, UAE — 20th May — Thndr, the leading retail investment platform in the MENA region, announced during its debut keynote event, its second major investment round, raising an additional $15.7 million, bringing its total current capital to $37.76 million. The round was led by Prosus Ventures, with participation from The Rabacap Partnership, BECO Capital, JIMCO Capital, Endeavor Catalyst, Y Combinator, and a prominent U.S. university endowment, among other new global investors.
These funds will now be strategically deployed to support Thndr’s regional expansion — with both the UAE and Saudi Arabia as key priority markets. Thndr is currently focused on deepening its operational presence in the UAE, while simultaneously laying the groundwork for entry into Saudi Arabia. The goal is to replicate its success in Egypt across the broader region by building locally relevant, trusted investment platforms.
Since inception, Thndr has been on a mission to democratize investing and improve financial literacy across MENA. The platform provides seamless access to a range of investment instruments including local and U.S. stocks, gold, mutual funds, and savings products, helping millions take control of their financial futures.
In 2024, Thndr solidified its position as Egypt’s leading retail brokerage on the Egyptian Stock Exchange (EGX), achieving a total traded value of $3.5BN, accounting for 11% of the retail traded value. The platform served as the entry point for 82% of all newly registered investors on the EGX, adding 190.1K new investors to the market. In gold mutual funds, Thndr now accounts for 47% of all assets under management. Notably, female participation on the platform increased from 3% to 12%, and 40% of users now come from outside of major cities—marking a clear success in reaching underserved populations.
Speaking about the investment, Sandeep Bakshi, Head of Investments, Europe at Prosus, said, “Hammouda and the Thndr team have demonstrated incredible execution over the past few years, and we are thrilled to be doubling down on our investment in the company. Thndr is transforming access to investing across MENA by empowering first-time investors with the tools and confidence to participate in the financial system—building a product that resonates deeply with a new generation and is becoming increasingly important. Their rapid growth, particularly among young and underserved populations, underscores both the strength of their leadership and the company’s broader mission. As early backers, we’re thrilled to support Thndr as they scale into Saudi Arabia and beyond.”
“Our mission is to provide access to local, regional, and international investment products through one wallet and one account—making investing as seamless and inclusive as possible,” said Ahmad Hammouda, CEO of Thndr. “With only 2% of individuals in MENA investing, we believe the time is now to build the region’s leading investment-first money app—a platform that helps people build wealth, make confident decisions, and live life on their own terms.”
Hisham Jazzar, Saudi General Manager shared “Returning from Silicon Valley to Riyadh, I was driven by a desire to channel my experience into value-driven solutions for my country. Saudi Arabia’s financial literacy gap is a significant challenge, and traditional approaches have fallen short. Thndr’s innovative, tech-driven model offers a scalable solution that aligns with the scale of the national problem. I’m thrilled to join a team committed to breaking down barriers to investing and empowering Saudis to actively participate in our nation’s economic transformation.”
Thndr has already built a strong regulatory foundation, holding a license from the Financial Regulatory Authority (FRA) in Egypt and a Category 3A license with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA).
*Thndr was advised by VCL as its legal counsel throughout the fundraising process.
]]>Led by CEO Ahmad Hammouda and the Thndr leadership team, the event brought together users, partners, and industry leaders to spotlight the company’s newest innovations — each designed to meet the needs of different types of investors.
ThndrX was the biggest announcement of the day — a platform built from the ground up for serious traders. Developed by traders themselves, including Thndr team members, ThndrX introduces advanced tools, speed, and a desktop-first experience tailored for high-frequency users. “This isn’t about hype — it’s about respecting the craft, it is not about pushing them to make trades, it’s about helping them to win,” said Ahmad Hammouda during the keynote. The platform marks a new era for Thndr’s trader community, offering precision, performance, and control.
In a move to bring institutional-grade investing to everyone, the company also announced that it has applied for an asset management license, allowing Thndr to directly create and manage investment products that meet the evolving needs of its users. This marks a major step toward building a wealth management experience that isn’t limited to high-net-worth individuals.
Alongside ThndrX, the team also revealed Thndr Alpha — a product designed to help everyday individuals take their first confident steps into investing. Powered by Rumble, Alpha takes users through with a simple but powerful flow and they receive a tailored starter pack of equities, gold, and fixed income. “A lot of people don’t just want access to investing. They want investing guidance. They want someone to walk them through the journey — clearly and simply. So for us, this isn’t just another feature,” said Hammouda. “It’s the foundation for something much bigger.” Alpha will roll out in phases, with future updates helping users build full investment plans, determine how much to invest and how often, and eventually evolve into a personalized strategy based on what matters most to each user.
The event also featured a live panel discussion on the future of wealth building in the region, bringing together prominent investors and financial leaders. Onsi Sawiris commented: “I’m grateful to be here today. I truly believe Thndr is the platform that will drive real change in the investment space. What resonated with me most is their mission to make investing accessible to everyone. We need to grow — not just as companies, but as a market. The entire ecosystem must expand and offer more diverse financial services.” He was joined by Ali Mokhtar, CEO of Beltone VC, who added: “As individuals, we know our income, our appetite for risk better than anyone. The more products on Thndr, the more empowered every user becomes.” The panel also included Ahmad Hammouda, CEO of Thndr, and Azzam, Chief of Staff at Thndr, in a candid conversation about the opportunities and challenges shaping the next generation of investors.
The event concluded with the announcement of Thndr’s $15.7 million funding round, bringing its total current capital to $37.76 million. The round was led by Prosus — a publicly listed company valued at over $100 billion and one of the world’s largest technology investors.The round also included participation from Endeavor Catalyst, JIMCO, BECO Capital, Raba, Y Combinator, and the endowment fund of a world-renowned engineering university. The funding represents a strong vote of confidence in Thndr’s mission and momentum, enabling the company to scale product innovation and regional growth.
As Hammouda concluded, “We’re proud of where we are. But even more excited about where we’re going. Your story, and our story is just getting started, and it’s getting bigger.”
*If you missed the keynote, you can catch the full live coverage here
]]>Thndr’s success in Egypt serves as a strong testament to its capabilities. Egyptians traded an impressive $1.8 billion on Thndr in 2023 and 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.
Leveraging its success in opening up investment access for the Egyptian market, Thndr is strategically poised to replicate this approach in the UAE. This expansion is further amplified by Thndr’s affiliation with Hub71, Abu Dhabi’s global tech ecosystem. Hub71’s extensive network of established corporations, national champions, and prominent investors provides Thndr with a launchpad to seamlessly integrate into the UAE market, facilitating their growth and potentially disrupting the traditional investment landscape.
Since its inception, Thndr has been on a mission to break down barriers to entry in the investment world. By offering a user-friendly app, educational resources, and a diverse investment selection it empowers individuals, regardless of their financial background, to take control of their financial futures.
“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-touse 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.”
“We at Thndr are thrilled to announce our official entry into the UAE market. This exciting development is a direct result of the incredible support we’ve received from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). Their guidance and efficient licensing process have been instrumental in making this a reality. We’d like to express our sincere gratitude to the FSRA for their openness and for welcoming Thndr to the UAE’s dynamic financial landscape.“ said Salah Kaddoura, UAE General Manager at Thndr.
Peter Abou Hachem, Head of Growth and Strategy at Hub71, said: “Once again, startups like Thndr show that Hub71 is a community where the world’s fastest-growing startups can succeed from within Abu Dhabi’s thriving FinTech scene. Our commitment to building a global tech ecosystem is based on empowering startup growth that makes a positive impact on the economy and society. Thndr has demonstrated a proven track record of success in Egypt and now we are poised to act as their launchpad for the next phase of their journey from Abu Dhabi.”
The app can be downloaded from the Apple App Store and Google Play
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