Egyptian fintech startup PALM has secured a 7-figure USD pre-seed funding round led by 4DX Ventures, with participation from Plus VC and a network of global angel investors.
The Cairo-based company is positioning itself as the first incentivized, goal-based saving platform in Egypt — aiming to make financial planning more accessible, personalized, and rewarding for millions.
Turning Life Goals Into Financial Outcomes
Launched by co-founders Mazen El Kerdany and Ahmed Ashour, PALM offers a digital platform where users can create personalized saving goals — whether it’s for education, healthcare, travel, marriage, or high-ticket purchases. By combining behavioral finance tools, automated investing, and exclusive merchant discounts, PALM seeks to help users achieve their milestones faster.
“Saving shouldn’t be an afterthought,” said Mazen El Kerdany, CEO of PALM. “We built PALM to flip the traditional model. Instead of saving what’s left, we help users start with their goals, and turn those goals into achievable outcomes.”
PALM’s platform leverages asset diversification — including fixed income, equities, and precious metals — to generate returns while keeping users motivated with progress-based rewards. Through partnerships with local merchants, PALM also reduces the real-world cost of key purchases by offering product-linked discounts.
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Founders Bring Global Finance and Tech Experience
El Kerdany, a veteran investment executive, has previously managed over $2 billion in assets at firms like EFG Hermes and Beltone Financial Holding. His co-founder, Ahmed Ashour, brings over a decade of experience from Amazon, Goldman Sachs, and several fintech startups across the US, Europe, and the Middle East.
Together, the pair are tackling what they see as a cultural and structural gap in Egypt’s financial landscape. With over EGP 8 trillion in bank deposits and EGP 70 trillion in real estate, Egyptians clearly have the capacity to save — but lack the tools that make saving strategic and rewarding.
“We’re building a platform that aligns financial behavior with modern lifestyles,” said Ahmed Ashour. “Our goal is to help users save consistently, invest smartly, and ultimately reach their goals, regardless of their income level or background.”
Investor Confidence in Financial Inclusion
Lead investor 4DX Ventures emphasized the broader economic implications of PALM’s vision. “By making saving intuitive, goal-driven, and rewarding, PALM is addressing a critical gap in personal finance,” said Peter Orth, Co-founder of 4DX. “They have the potential to transform financial wellness across the region.”
Hasan Haider, Managing Partner at Plus VC, added: “PALM is reimagining how people approach life’s biggest expenses. They’re not just offering a savings tool — they’re building a trusted financial companion for the next generation.”
What’s Next: Product Growth and Market Expansion
The fresh capital will be used to accelerate product development, grow the firm’s user base, and expand its network of strategic partners and merchant deals. The team also plans to introduce more personalized financial planning tools and continue investing in behavioral finance features that make saving more consistent and less daunting.
Long-term, PALM aims to reach millions across the Mediterranean region, embedding a culture of saving into everyday life. As the company scales, it also hopes to play a role in Egypt’s Vision 2030 goals around financial inclusion and increased household participation in capital markets.
“Saving should feel empowering — not restrictive,” said El Kerdany. “At PALM, we’re giving users a reason to stay consistent, a smarter way to spend, and a better way to grow their wealth.”
