Thndr, launched in 2020, is regulated by the Abu Dhabi Global Market’s Financial Services Regulatory Authority (ADGM FSRA). The platform offers access to markets in the UAE, Egypt, and the United States, and provides investment in various asset classes, including stocks, gold, mutual funds, and savings products.

Thndr set up its base in the UAE capital through the Hub71 start-up platform. Hub71 is a technology and startup ecosystem based in Abu Dhabi, United Arab Emirates, designed to attract and support entrepreneurs, innovators, and investors from around the world.

According to the company, Thndr processed  over USD 13 billion in trading value and executed 12 million trades in 2024.

With a market capitalization of approximately AED 3.1 trillion (USD 844 billion), the ADX is the second largest exchange in the MENA region and ranks among the top 20 globally by market value . The exchange has reported outperforming the MSCI Emerging Markets Index over the past decade and certain global indices over the past 20 years.

Abdulla Salem Alnuaimi, Group CEO of ADX, said the inclusion of Thndr marks a significant step toward strengthening trading links across the region’s capital markets. He noted that by being the first exchange in the GCC to admit Thndr, ADX is reinforcing its commitment to financial inclusion and expanding investment opportunities within Abu Dhabi’s capital market. He added that the move sets a standard for digital innovation and cross-border cooperation in financial services, supporting Abu Dhabi’s shift toward a knowledge- and investment-driven economy.

“Retail investors deserve access to a grade-A investment service. This partnership gives our users the chance to invest in one of the region’s strongest-performing markets over the past 5, 10, and 15 years, while also opening doors to exposure within MENA through Tabadul as well as beyond MENA. As an Egyptian founder, this moment is personal, it’s about building on the historic ties between Egypt and the UAE and creating new bridges for our communities to grow, invest, and win together,” said Ahmad Hammouda, Co-founder and CEO of Thndr.

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The Series A funding round drew investments from Peak XV Partners, formerly Sequoia Capital India & SEA, and other international and regional investors.

Alaan enables businesses to manage their finances. Its services include issuing corporate cards, automating expense management and streamlining payment workflows and reconciliation.

It intends to use the fresh capital to grow its business in the region, with a specific focus on Saudi Arabia. It also looks to strengthen its UAE base, scale its teams and speed up the development of its AI-powered finance operations suite, with plans including creating AI agents to automate tasks.

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This partnership introduces, for the first time, a Shariah-compliant BNPL solution by a Qatari fintech, enabling customers to make purchases through flexible instalment plans, promoting financial inclusion and supporting the growth of Qatar’s digital economy.

The partnership brings together QIB’s trusted banking expertise and PayLater’s fintech innovation to offer seamless, Shariah-compliant financial solutions tailored to the evolving needs of consumers and merchants in Qatar.

Aligned with QIB’s sustainability agenda and the Qatar Central Bank’s (QCB) strategy to encourage collaboration between banks and fintech companies, the collaboration reinforces QIB’s commitment to expanding digital financial services while supporting the local fintech ecosystem.

“Our partnership with PayLater represents a strategic milestone in QIB’s mission to revolutionise financial services by integrating innovation and accessibility, in line with the QCB’s strategy to support the collaboration between banks and fintech companies,” said Tarek Fawzi, QIB’s general manager – Wholesale Banking Group.

By joining PayLater’s fintech expertise, QIB is enhancing its offering with tailored, customer-centric solutions that empower individuals and create new growth opportunities for merchants, reinforcing our role as a leading digital bank, he said.

Mohammed al-Delaimi, co-founder and managing partner of PayLater, said these solutions are transforming how consumers manage their finances while offering merchants new avenues to grow their business.

“Our partnership with QIB highlights the potential of collaborations between fintechs and banks to create customer-centric solutions that redefine the financial landscape in Qatar,” he said.

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This move aligns with Qatar’s Third Financial Sector Strategy and its broader FinTech strategy, underscoring the QCB’s commitment to developing and regulating the nation’s burgeoning FinTech ecosystem.

The approval highlights the QCB’s dedication to fostering the financial sector and advancing key objectives outlined in the Third Financial Sector Strategy.

It’s important to note that while this grants Paywise LLC (Dibsy) the status of an Authorized FinTech Express Sandbox Participant for regulatory activities, it does not equate to full-scale licensing approval.

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The partnership brings together QIB’s trusted banking expertise and PayLater’s fintech innovation to offer seamless, shari’a-compliant financial solutions tailored to the evolving needs of consumers and merchants in Qatar.

Aligned with QIB’s sustainability agenda and the Qatar Central Bank’s (QCB) strategy to encourage collaboration between banks and fintech companies, the collaboration reinforces QIB’s commitment to expanding digital financial services while supporting the local fintech ecosystem.

Commenting on the partnership, Mr. Tarek Fawzi, QIB’s General Manager – Wholesale Banking Group, said: “Our partnership with PayLater represents a strategic milestone in QIB’s mission to revolutionize financial services by integrating innovation and accessibility, in line with Qatar Central Bank’s strategy to support the collaboration between banks and fintech companies. We are pleased to be at the forefront of Innovation in Islamic banking thru our partnership with PayLater, which represents a strategic milestone for QIB, this is in addition to extending our support to Qatari start-ups specialized in technology in line with Qatar National Vision 2030. By joining PayLater’s fintech expertise, we are enhancing our offering with tailored, customer-centric solutions that empower individuals and create new growth opportunities for merchants, reinforcing our role as a leading digital bank.”

Mr. Mohammed Al-Delaimi, Co-founder and Managing Partner of PayLater, said:“We are delighted to start this valued partnership with Qatar Islamic Bank to introduce BNPL solutions in Qatar. These solutions are transforming how consumers manage their finances while offering merchants new avenues to grow their business. Our partnership with QIB highlights the potential of collaborations between finTechs and banks to create customer-centric solutions that redefine the financial landscape in Qatar.”

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This collaboration marks a significant milestone in the region’s digital transformation journey, as both entities join forces to offer innovative solutions through Ooredoo’s wallet platform.

Building on their existing strategic alliance, which to date has focused on the market leading Ooredoo Money proposition in Qatar, QNB will serve as the settlement bank for Ooredoo Fintech’s mobile wallet in Oman, leveraging its extensive expertise in banking and finance to facilitate seamless transactions and enhance its user experience. The partnership will empower consumers in Oman to enjoy a wide range of financial services directly from their mobile devices, including mobile payments, fund transfers, bill payments, and more.

Commenting on the partnership, Khalid Ahmed Al Sada, Senior Executive Vice President – Group Corporate and Institutional Banking, stated, “We are excited to collaborate with Ooredoo Fintech to bring cutting-edge fintech solutions to Oman. This partnership aligns with our commitment to supporting innovation in the countries we operate. By leveraging our robust banking infrastructure and Ooredoo’s expansive reach, we aim to empower individuals and businesses with convenient, secure, and accessible financial services.”

Similarly, Michelangelo Giacco, CEO of Ooredoo Fintech, expressed his enthusiasm for the collaboration, saying, “We are dedicated to leveraging technology to enrich the lives of our customers. This partnership with QNB represents a significant step towards realizing this vision, as we combine our expertise to deliver innovative fintech solutions tailored to the needs of the Omani market. Together, we aim to redefine the future of digital wallets and drive financial inclusion across the Sultanate.”

The partnership between QNB and Ooredoo Fintech underscores their shared commitment to fostering financial inclusion and driving digital innovation in Oman.

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The signing ceremony was attended by Emre Yalcin, Head of Retail Banking at UAB, Helal Tariq Lootah, and Alexandre Soued Co-Founders and Co-CEOs of Lune, along with senior executives from both organizations.

Leveraging Lune’s technology, UAB will enrich and transform raw transaction data into meaningful financial insights through a user-friendly interface—empowering customers with enhanced transparency and informed financial decision-making. The solution will also drive intelligent digital engagement, including personalized recommendations, contextual offers, and advanced financial planning features—all delivered through conversational digital interfaces.

Emre Yalcin, Head of Retail Banking at United Arab Bank, commented: “While the underlying technologies have existed for some time, we at UAB were not entirely convinced about the maturity of the outcomes—until now. Partnering with Lune, a homegrown fintech with deep expertise in the UAE’s payment ecosystem and cutting-edge technologies, gives us confidence in delivering the enriched digital experience our customers expect. This partnership enables us to offer context-rich financial insights, unlocking new opportunities for customer engagement, operational efficiency, and long-term growth.”

Helal Tariq Lootah, Co-CEO and Co-Founder of Lune, said: “We’re delighted to be working with United Arab Bank. This collaboration reflects our shared commitment to innovation, customer empowerment, and building a stronger, data-driven financial future. Together, we look forward to delivering meaningful impact and value to the market.”

The partnership reflects UAB’s ongoing commitment to digital transformation and reaffirms its strategic focus on leveraging fintech collaboration to deliver superior customer experiences.

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The Hakbah app and digital platform was designed to make it fast, easy and safe for residents to participate in and benefit from Jameya group savings programs, a traditional and culturally important practice that helps individuals and families increase savings habits as well as answer short special needs.

Hakbah, which is permitted by the Saudi Central Bank (SAMA) and operates within the Regulatory Sandbox, has surpassed more than 1.3 million registered users with more than 70 percent coming from a youth population that needs assistance building positive savings habits. Hakbah customers have reported using the fintech app to enable them to save for life-changing needs for themselves and their families that they previously couldn’t afford. This includes things like paying for critical medical care, fertility treatments to start a family, wedding expenses, travel expense, university tuition and small projects.

Naif AbuSaida, Hakbah Founder, said that bringing the social savings concept into the AI and digital age creates a far more practical and applicable new social savings culture while preserving the core purpose and cultural heritage of the social savings practice. He said that while supporting short financial needs, Hakbah helps build new savings habits among its users that have long-term benefit for them and their families while contributing to the financial stability of communities across the country.

Naif AbuSaida said: “We greatly appreciate that such a highly respected international business organization like CNBC is recognizing the unique model we’ve created that marries the power of social savings and the Jameya concept to make a real and lasting impact on people’s lives. What’s equally important is that this is a validation of the Saudi Arabia and SAMA strategy to promote the creation of an ecosystem across the national financial community that encourages collaboration and partnership to help increase savings across all segments of the population as a high priority strategic goal in alignment with Saudi Vision 2030.”

Hakbah has established a range of strategic partnerships under this national vision with organizations including Riyad Bank, Fransi Bank, ANB, Alrajhi Bank, flynas and Tawuniya, the country’s leading national insurance company that supports Hakbah users by providing life insurance throughout the term of their Jameya.

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The event gathered senior institutional investors, financial market stakeholders, and representatives from both firms to explore the transformative potential of fintech-originated private credit as a new frontier in the Saudi investment landscape.

Commenting on the event, Ahmed Saud Ghouth, CEO of Alkhabeer Capital, stated: “Saudi Arabia’s investment landscape is undergoing rapid transformation, driven by digitalization, innovation, and a push for diversified capital formation. Our partnership with Fasanara Capital reflects a shared ambition to pioneer new asset classes that respond to the evolving needs of investors and align with the objectives of Vision 2030. The signing of this MoU is a key milestone in our joint mission to unlock fintech private credit opportunities in the Kingdom.”

Francesco Filia, Founder & Chief Executive Officer, Fasanara Capital said: “We are excited to partner with Alkhabeer Capital to introduce fintech-originated private credit to the Saudi market. This collaboration represents a significant step toward building a more inclusive and technologically advanced financial ecosystem. By leveraging data-driven lending models and next-generation credit infrastructure, we aim to deliver scalable, transparent, and risk-conscious solutions that address the growing demand for alternative fixed-income strategies in the Kingdom”.

The event featured insights into global trends in alternative credit markets, showcasing how fintech is reshaping private credit through more efficient, scalable, and transparent investment models. Presentations highlighted the structure and investment mechanics of fintech-originated credit and how these models can deliver compelling risk-adjusted returns while meeting demand for diversified, income-generating strategies.

Alkhabeer Capital is one of the leading capital market institutions in Saudi Arabia, authorized by the Capital Market Authority under License No. 07074-37 and headquartered in Jeddah, Kingdom of Saudi Arabia, with a branch in Riyadh. The Company provides innovative world-class investment products and solutions in private equity, financial markets, and real estate investments, in addition to offering investment banking and brokerage services.

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Through this collaboration, EazyPay will serve as Tamara’s local acquirer and provide advanced payment gateway services, enabling secure, seamless, and efficient transaction processing across Tamara’s expanding network of merchants and customers in the Gulf.
The partnership was formalized during a signing ceremony held on Wednesday, 25 June 2025, underscoring both companies’ commitment to advancing the region’s digital payments infrastructure.

Nayef Tawfiq Al Alawi, Founder & CEO of EazyPay, commented: “Tamara has rapidly become a key player in how consumers across the region choose to pay—particularly with the rise of BNPL models. By supporting their platform with our payment gateway services, we’re enabling a smoother, faster, and more reliable experience for merchants and customers alike. It’s a strong example of how fintech collaboration can deliver real value to the market.”

Faris Al-Obaid, CEO and Vice Chairman of Tamara Bahrain B.S.C., added: “We are absolutely thrilled to announce our strategic partnership with EazyPay in Bahrain, marking a pivotal moment for Tamara’s expansion in the MENA region. EazyPay, a leader in payment solutions, will not only serve as our local acquirer but also as a key strategic partner for our growing operations in Bahrain. This collaboration is a testament to our commitment to enhancing our service offering and delivering a seamless, elevated experience to our customers. We are confident that EazyPay’s local expertise and strong infrastructure will help us achieve our shared goals and promote financial inclusivity in the Kingdom.”

This strategic alliance also reflects EazyPay’s continued efforts to drive innovation and foster collaboration within the regional fintech ecosystem. As a homegrown Bahraini fintech leader, EazyPay remains committed to forging strong partnerships that support the wider digital transformation agenda shaping the future of commerce in the GCC.

By combining Tamara’s innovative consumer payment experience with EazyPay’s proven technology infrastructure, this partnership is set to elevate the digital commerce experience across the Gulf, creating greater value and convenience for businesses and consumers alike.

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