Egyptian Fintech Thndr Plans Saudi Market Entry in Early 2027

Thndr, an Egyptian digital investment platform, is awaiting final regulatory approvals to launch in Saudi Arabia as assets held on its app surpassed LE 50 billion, equivalent to approximately $960 million.

According to the company, discussions with Saudi regulators are in advanced stages, though no timeline has been set for the launch while licensing procedures are completed.

The move comes as Thndr continues its regional expansion following its entry into the Abu Dhabi Securities Exchange last year. The company currently holds licences from Egypt's Financial Regulatory Authority and Abu Dhabi Global Market.

At its annual product showcase in Cairo on June 7th, Thndr announced plans to expand its investment offerings through new products focused on gold and real estate, both of which remain subject to approval by Egypt's Financial Regulatory Authority.

The company also said it would eliminate commissions on mutual fund investments and revealed plans for a Thndr-branded payment card through a partnership with Visa, Suez Canal Bank and Modupay. The card is pending approval from the Central Bank of Egypt.

Founded in 2020 by Ahmad Hammouda and Seif Amr, Thndr describes itself as one of the first fully digital investment platforms in the Middle East and North Africa. The company also notes that it was the first brokerage firm to receive a new brokerage licence in Egypt since 2008.

Saudi Arabia has become a key market for the platform's expansion strategy as the Kingdom continues to attract international businesses under Vision 2030 and strengthen its position as a regional financial hub.