RIYADH: Egyptian investment platform Thndr is in advanced discussions with Saudi regulators and awaiting final approvals to enter the Kingdom, as it seeks to expand beyond its home market.
The company, which launched operations on the Abu Dhabi Securities Exchange last year, is pursuing licensing in Saudi Arabia and aims to become a leading investment platform across the Middle East and North Africa, executives told Arab News.
No timeline has been set for the launch of operations in the Kingdom as the company awaits the completion of regulatory procedures.
The planned expansion comes as assets on Thndr’s platform surpassed 50 billion Egyptian pounds ($960 million), reflecting growing retail investor participation and increasing demand for digital investment products across the region.
Ahmad Hammouda, co-founder and CEO of Thndr. Supplied
“This number is a reflection of people’s hard work, people’s dreams, and people’s futures,” Ahmad Hammouda, co-founder and CEO of Thndr, told Arab News.
“When someone chooses to put part of their savings or investments on Thndr, they deserve to know what we’re working on, where we’re headed, and what’s coming. That’s why we are committed to an annual keynote, to show up for the community that helped us build this,” he added.
Founded in 2020 by Hammouda and Seif Amr, Thndr is among the first fully digital investment platforms in the MENA region. The company holds regulatory licenses from Egypt’s Financial Regulatory Authority and Abu Dhabi Global Market and says it was the first brokerage firm to receive a new brokerage license in Egypt since 2008.
Saudi Arabia has become a key target for regional expansion as the Kingdom accelerates efforts to diversify its economy and strengthen its position as a financial and business hub under Vision 2030.
The government has introduced a series of regulatory reforms, investment incentives and visa changes in recent years, helping attract foreign companies seeking regional expansion opportunities.
More than 700 multinational companies had established regional headquarters in Riyadh by early 2026, surpassing the government's original target of 500 by 2030.
At its annual product showcase in Cairo on June 7, Thndr announced plans to broaden its investment offerings through new gold- and real-estate-focused products, both pending approval from Egypt’s Financial Regulatory Authority.
The company also said it would eliminate commissions on mutual fund investments, a move aimed at reducing costs for retail investors and expanding access to professionally managed investment products.
Thndr also announced a partnership agreement with Visa, Suez Canal Bank and Modupay to develop a future Thndr-branded payment card, pending approval from the Central Bank of Egypt.
