
Egypt-Based Investment App Thndr Raises $15.7 Million to Expand in MENA
Thndr, a digital investment startup based in Cairo, has secured $15.7 million in its latest funding round.
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Norway’s development finance institution, Norfund, has pledged up to US$6 million to support the farmer-led acquisition of Langeberg Foods, a major South African canned fruit producer.
Until recently, Langeberg Foods operated under Tiger Brands, which first signalled its intent to exit the canned fruit business in 2020 as part of a broader portfolio realignment.
Under the new arrangement, ownership will be shared between Norfund, approximately 90 fruit farmers, and the newly created Langeberg Community Trust.
Norfund’s investment is intended to facilitate the transition of the business into local hands, safeguard jobs, and support longer-term development.
The funds will be used to modernise production equipment, rebuild the company’s export capacity, and bolster its leadership team.
From 1 October 2025, Tiger Brands formally relinquished control of the Langeberg & Ashton Foods unit, and Langeberg Foods (Pty) Ltd will take over operations.
The deal was finalised after satisfying all regulatory conditions.
As part of the handover, the company has pledged R150 million to capitalise the community trust, which will hold a 10 percent equity stake.
In addition, Tiger Brands plans to invest R31 million to upgrade the factory’s effluent treatment facility, helping to ensure environmental compliance under the new ownership.
The new senior management team brings extensive experience and has committed their own capital to the venture.
Edwin Kriel has been appointed CEO, and the chairman likewise has deep roots in the sector.
Under their leadership, the company aims to “honour South Africa’s proud fruit heritage” while pursuing growth, value-chain empowerment, and community development.
The Ashton facility, located in the Western Cape’s Breede River Valley, is a significant employer in the region, providing work for over 3,000 seasonal and permanent staff.
More than 80 percent of its products—canned fruit and purées—are destined for export markets.
Local farmers have welcomed the ownership transfer, with Anthony Dicey, chairman of the Ashton Fruit Producers Agricultural Co-operative, saying the deal offers greater industry stability and opens doors for planting new orchards and sustainable expansion.

Thndr, a digital investment startup based in Cairo, has secured $15.7 million in its latest funding round.

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