Egypt-based fintech Thndr has expanded into the UAE after securing a license with retail endorsement from the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA).

Through its user-friendly app, the company seeks to make investing accessible to everyone and empower individuals, regardless of financial background, to take control of their financial future.

With its entry into the UAE, Thndr will offer investors in the market a one-stop-shop for investing, with its array of products, according to a statement.

It will initially provide direct access to US-listed securities, including stocks, exchange-traded funds (ETFs) and fractional shares, with no minimum investment requirements.

Thndr said it has facilitated a significant portion of new stock market investors in Egypt. It currently boasts more than 3 million downloads, with 500,000 active monthly users. 

Egyptians traded $1.8 billion on the platform in 2023 and as of April 2024, Thndr accounted for 8.5% of all retail transactions in the market.

(Writing by Cleofe Maceda; editing by Seban Scaria)