Thndr heads to the UAE: Homegrown digital investment platform Thndr has received the greenlight from the Abu Dhabi Global Market Financial Services Regulatory Authority to enter the Emirati market, according to a statement from the startup.

What’s next? Emirati Thndr users will be able to invest in US securities — including stocks, exchange-traded funds, and fractional shares — on the app, with no minimum investment. More investment products will be rolled out over time, the statement added.

Thndr? Founded in 2020 by former Uber execs Ahmad Hammouda and Seif Amr, Thndr is an equities trading platform that allows people to invest in Egyptian mutual funds and publicly listed companies, as well as US stocks, using its mobile app. It’s the most popular investment platform in the country by number of trades and some USD 1.8 bn was traded on the app last year. Some 8.5% of all retail transactions in the Egyptian market were made via Thndr as of April 2024. First time investors make up 87% of the platform’s user base.

The company’s four guiding pillars have helped build its success and will guide its approach in the UAE, the statement said. The four pillars include “the creation of an investment superstore, offering a variety of investment options based on individual needs”, the company’s “belief and commitment to local regulator” that has helped it stay ahead, its efforts to “demystify investing through content,” and finally the platform being user-first in how its designed, “making it easy-to-use and tailored to the needs of everyday young investors.”

CI CAPITAL TO FOLLOW SUIT-

CI Capital announces GCC expansion plans: State-owned financial services group CI Capital has announced its intentions to set up an “on-the-ground presence” for its investment bank in Saudi Arabia and the UAE, group CEO Hesham Gohar said in a press release (pdf). Gohar described the two countries as “two very important markets with robust growth, deepening capital markets and significant investor appetite.”

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