Cairo – Sharikat Mubasher: PALM, Egypt’s first fintech startup focused on incentivized, goal-based saving, announced the successful close of its pre-seed funding round.
The round was led by 4DX Ventures with participation from Plus VC and a group of international angel investors, as per the company’s press release.
Launched to help Egyptians save smarter and achieve major life goals, PALM combines traditional investment tools with behavioral nudges and exclusive merchant rewards. The platform allows users to set financial goals—ranging from education and healthcare to travel and home essentials—and supports them with curated asset allocations across fixed income, equities, and precious metals.
Co-founded by Mazen El Kerdany and Ahmed Ashour, the startup is tapping into Egypt’s sizable deposit, gold, and real estate holdings by offering accessible and culturally relevant savings tools. The founders bring extensive experience from EFG Hermes, Amazon, and Goldman Sachs, uniting finance and technology to address Egypt’s financial inclusion challenges.
With the new funds, PALM aims to accelerate user acquisition, expand its product offerings, and grow its partner network. The long-term vision is to become the go-to platform for life-stage financial planning across the Mediterranean.
Investors praised PALM’s approach to modern money management. 4DX Ventures’ Peter Orth said the company has the potential to drive financial wellness across the continent, while Plus VC’s Hasan Haider noted PALM is filling a critical gap in personal finance for the next generation.
PALM’s founders say their mission is to transform how Egyptians save by turning consistent saving into a rewarding, mainstream habit.
