PALM, an Egypt-based fintech startup focusing on wealth management, has secured a seven-figure pre-seed funding round, led by 4DX Ventures with participation from Plus VC and several international angel investors.
This funding marks a major step in PALM’s mission to reshape personal finance by offering a smarter, more personalized, and rewarding way for Egyptians to save and achieve life goals.
With the fresh capital, PALM plans to accelerate user acquisition, expand its product offering, and forge strategic partnerships to enhance the user experience. The company is also committed to establishing itself as a culturally relevant financial solution that aligns saving with real-life events, turning financial planning into a meaningful, everyday practice.
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Commenting on the funding round, Peter Orth of 4DX Ventures said,
“PALM fits our vision of backing bold founders creating long-term prosperity in Africa. Their model of turning major life expenses into wealth-building opportunities is a game-changer for financial wellness on the continent.” Hasan Haider of Plus VC added, “They’re addressing a critical gap in personal finance and are well-positioned to become a trusted financial companion for the next generation.”
Hasan Haider of Plus VC added,
“They’re addressing a critical gap in personal finance and are well-positioned to become a trusted financial companion for the next generation.”
A New Approach to Saving
Founded in 2024 by Mazen El Kerdany and Ahmed Ashour, PALM is Egypt’s first goal-based savings platform, designed to help users reach important life milestones such as education, healthcare, travel, and homeownership through behavioral technology and embedded finance.
The platform offers curated investment options in equities, fixed income, and precious metals, while incentivizing consistent saving habits through rewards and exclusive merchant deals, thus maximizing the real-world value of users’ savings.
Bridging a Critical Gap
Despite Egyptians holding over EGP 85 trillion in traditional assets like deposits, gold, and real estate, access to modern, digital financial tools remains limited. PALM addresses this disconnect by embedding investment into daily financial behavior, encouraging consistent savings while improving financial literacy and inclusion.
“Our inspiration came from the clear need for more accessible, goal-aligned financial tools,” said Mazen El Kerdany, CEO of PALM.
“The old formula of ‘earn, spend, save what’s left’ doesn’t work anymore. With PALM, we’re enabling smarter spending and structured saving—giving people real incentives and real returns.”
By helping individuals save, spend, and invest more intelligently, PALM is supporting Egypt’s Vision 2030 objectives around financial inclusion, capital market participation, and household financial resilience.
Egypt’s Vision 2030, launched in February 2016 by the Egyptian government under President Abdel Fattah el-Sisi, is a national agenda aligned with the United Nations Sustainable Development Goals (SDGs) and the Sustainable Development Strategy for Africa 2063.
It emphasizes inclusive and sustainable development across economic, social, and environmental dimensions, with financial inclusion as a core objective to promote economic resilience, reduce poverty, and enhance social equity. To help fast track this vision, PALM plans to play a key role in modernizing Egypt’s financial services landscape as it scales.
As the company scales, it aims to become the go-to financial partner for life’s milestones across the Middle East and North Africa (MENA) region, empowering users to protect their families, employees, and futures with purpose-driven, intelligent savings.