Egypt’s answer to Robin Hood just rolled out a mutual fund on its platform: Users of zero-commission stock trading app Thndr can now invest in Azimut Egypt’s AZ-Savings mutual fund (pdf), Thndr said in a press release (pdf) yesterday. This is the first fund Thndr has offered on its platform since it launched last year, and will allow retail traders to invest in a variety of fixed-income instruments. Investors can buy into the fund daily and take their returns weekly, the company said.

About the fund: AZ-Savings — launched by the European asset manager in October — has so far seen EGP 650 mn of inflows, said Azimut Egypt MD Ahmed Abou El Saad. It is a fixed-income vehicle, focusing on low-risk and mostly short-term instruments such as treasury bills, corporate bonds and sukuk, as well as longer-term bonds.

About Thndr: Thndr became the first company to be awarded a brokerage license since 2008 when it launched last year. The app offers three zero-commission plans, including one unpaid scheme and two plans priced at EGP 15 and EGP 55 per month. The company has received an undisclosed amount of pre-seed funding from Y-Combinator, 4DX Ventures, Endure Capital, the Raba Partnership, and MSA Capital.

ALSO FROM PLANET STARTUP-

Pre-seed and seed stage startups in Egypt are eligible for a USD 100k investment from a MENA fund set up by 500 Startups and Saudi’s Sanabil Investments, according to Business Wire. 500 Startups is a Silicon Valley-based global VC fund and Sanabil Investments is a Riyadh-based investment fund owned by Saudi’s sovereign wealth fund. The Sanabil 500 MENA Seed Accelerator Fund will invest in startups chosen to participate in their accelerator program, in addition to investing “opportunistically in other pre-seed and seed stage startups throughout MENA,” with an eye to invest in a total of 100 startups. Applications for the accelerator opened yesterday, with business owners from across the MENA region eligible to apply.