Egyptian fintech startup PALM has secured an undisclosed pre-seed funding round led by 4DX Ventures, with participation from Plus VC and international angel investors.
PALM is Egypt’s first goal-based saving platform that rewards users for staying consistent with their financial goals.
Why it matters
PALM is tackling Egypt’s personal finance gap by providing a smarter, more rewarding way for individuals to save for life’s big milestones—from education and healthcare to marriage and travel—while earning investment returns and exclusive discounts.
The big picture:
- Egyptians hold:
- EGP 8 trillion in bank deposits
- EGP 7 trillion in gold
- EGP 70 trillion in real estate
- Yet, few accessible tools exist to help everyday people save intentionally and build diversified portfolios.
- PALM aims to shift the savings mindset from “save what’s left” to “plan, prioritize, and invest.”
How PALM works
- Offers incentivized goal-based saving
- Combines behavioral nudges with curated investments in fixed income, equities, and precious metals
- Partners with merchants to unlock real-world discounts, helping reduce out-of-pocket spending
- Empowers users to align savings with personal milestones—“All life goals, in your PALM”
The founders
- Mazen El Kerdany, CEO — former investment executive with $2B under management; ex-EFG Hermes, Beltone, and Post for Investment
- Ahmed Ashour, CTO — ex-Amazon and Goldman Sachs, with fintech experience across EMEA and the U.S.
What they’re saying
“The challenge isn’t Egyptians’ ability to save—but the lack of tools that make saving meaningful and aligned with real goals,” said Mazen El Kerdany.
“We’re making saving modern, fun, and tailored to all income levels,” added Ahmed Ashour.
What’s next
With the new funding, PALM plans to:
- Scale user acquisition
- Expand product use cases
- Grow strategic merchant and financial partners
- Innovate culturally-relevant savings products for broader regional impact
The investors say:
“PALM makes wealth-building easier and smarter—unlocking Africa’s financial potential,” said Peter Orth, 4DX Ventures.
“They’re redefining personal finance for a new generation,” added Hasan Haider, Plus VC.
Between the lines
With ambitions to expand across the Mediterranean, PALM is positioning itself as a lifestyle-driven financial partner—bridging the gap between saving and spending, and between financial wellness and national economic goals like inclusion and capital markets participation.
