Who Are We?
Thndr was founded with a dream to democratize investing. We wanted to give anyone with a smartphone the ability to grow and preserve their wealth. What access and knowledge only few had, we wanted to extend to many. This, we believe, can only be achieved by increasing (and deepening) participation in local capital markets.
History has shown that investing is the single greatest way to build long term wealth. However, there are a lot of barriers that prevent every day Saudi individuals from meaningfully participating in the stock market. The most significant of which is low financial literacy – personal finance and investing are rarely taught at home or school.
The journey so far
Thndr launched in Egypt in 2020 and in less than four years, we’ve introduced 296K first-time investors to the Egyptian Stock Exchange. That’s 66% of all investors on the EGX. Thndr’s app is sleek and easy to use, but that alone doesn’t explain why users felt confident to start their investing journey with us. We attribute much of that result to our commitment to educational content, be it easy-to-understand articles or accessible videos on social media.
Our KSA Vision
We’re coming to Saudi with the same mindset. Similar to Egypt, Saudi society struggles with low rates of financial literacy. This problem has been identified by the Saudi Ministry of Finance and is best quantified by the household savings rate, which currently stands at 1.6% of total household income. Saudi’s Vision 2030 National Savings and Financial Literacy Strategy has set a target of increasing this to 10% by 2030. Through code and content – our bread and butter – we will work diligently to help achieve this goal.
Thndr in Numbers
On our short journey we’ve validated that there is a need for our solution, as illustrated by these key figures in Egypt:
- 3 million app downloads
- 84% of users are first time investors
- 65% of users live outside Cairo, Giza and Alex
- Grew from 8 to 250 employees in 4 years across Egypt and UAE
- Became Egypt’s largest retail broker: $8.8bn in annualized traded value
- Raised $20M Series A from Beco Capital, Prosus Ventures, Tiger Global ++
- Built a sustainable business with sound unit economics and an accelerating user acquisition rate: acquired 31K users in Q1’23 vs 73K in Q1’24 (235% growth)
Role in A Nutshell
We are looking for a Finance Manager in Saudi to lead and develop our finance function. The ideal candidate has to have a strong sense of ownership and is going to be responsible for preparing and updating company financial reports and budgets.
What You'll Do
Financial Reporting and Control:
- Prepare company financial statements in compliance with KSA accounting standards, regulations, taxation and zakat law.
- Implement financial controls to safeguard company assets and maintain accurate records.
- Work with 3rd party auditors & tax consultants to deliver audits & submissions in a timely manner.
- Ensure adherence with company internal policies.
Budget Management:
- Develop Thndr KSA's annual budget & financial model in cooperation with the GM and with the help of the Finance Team in Egypt.
- Conduct financial analysis & forecasts to support decision-making.
- Monitor budget performance regularly and provide guidance to control costs and achieve financial targets.
- Support strategic planning and business initiatives.
Payroll and Banking Operations:
- Assist the people team with payroll management.
- Oversee banking operations, including managing relationships with banks.
- Ensure efficient and accurate processing of payroll and banking transactions.
What We're Looking For?
- High integrity, high agency, and high attention to detail.
- CME1A & CME1B certification (or willingness to take the exams).
- Self-motivation and biased towards actions.
- Experience managing a budget and owning a financial reporting function.
- Solid understanding of financial management and accounting.
- Excellent communication and presentation skills.
- Ability to think clearly and solve problems.
- Ability to work in a fast-paced, dynamic startup environment and adapt to evolving needs
Thndr’s culture rewards resourcefulness, self-initiative, and high-ownership. If you have that, and are also passionate about democratizing investing, we would love to speak with you.