Thndr, a startup from Egypt, has announced a new investment of $15.7 million. The funding round is led by Prosus, a global investment firm and one of the largest tech investors in the world.
The funding round also saw the participation of well-known investors like Y Combinator, BECO Capital, Endeavor Catalyst, JIMCO, and Raba. The Endowment Fund of one of the world’s largest engineering universities was also involved.
Egyptian investor Ansi Sawiris also joined the list of investors in this round.
Ahmed Hammouda, CEO and co-founder of Thndr, said at Egypt’s first financial technology conference that “this funding is not just money, but a message highlighting the importance of our mission.”
With this new funding, Thndr has now raised $37.76 million.
At the conference, Thndr announced the launch of two new products: Thunder Alpha, an investment platform for beginners, and Thndr, an advanced trading platform for professional traders. The company also shared that it has applied for an official asset management license in Egypt.
These moves are part of Thndr’s plan to grow from just a trading platform into a full financial institution. The company currently serves over 4 million users and aims to make a bigger impact in the financial sector of the region.
Thndris working to grow from just a trading platform into a whole financial institution as part of its long-term strategy.
The company already serves over 4 million users and wants to increase its impact on the region’s financial sector.
Read more- Kaynes Semicon Launches Chip Design Centre in Oman
