Egyptian Fintech Startup PALM Secures Seven-Figure Pre-Seed Funding to Reinvent Savings

Cairo-based fintech PALM has raised a seven-figure pre-seed funding round, led by 4DX Ventures, with additional backing from Plus VC and international angel investors. Launched in 2024 by Mazen El Kerdany and Ahmed Ashour, PALM aims to reshape how Egyptians save by offering a modern, goal-based savings platform that leverages behavioral nudges, embedded finance, and diversified investment tools spanning fixed income, equities, and precious metals. Users also benefit from exclusive merchant deals that increase the value of savings and reduce daily spending.

The funding will accelerate product development, user acquisition, and PALM’s broader mission of becoming the preferred savings platform across the Mediterranean region.

According to its official release, PALM is Egypt’s first fintech startup centered around incentivized, goal-oriented saving. It delivers a tailored savings experience designed to help users meet real-life financial goals—ranging from education and healthcare to travel and key purchases—by integrating traditional investment strategies with user-friendly, rewarding behaviors. The platform offers curated asset allocation and access to exclusive discounts from a growing partner network, reinforcing its unique approach: “All life goals, in your PALM.”

Founders’ Backgrounds
Mazen El Kerdany brings deep investment experience, having previously managed USD 2 billion in assets and held leadership roles at EFG Hermes, Beltone Financial Holding, and Post for Investment. His co-founder, Ahmed Ashour, has over a decade of global experience at Amazon, Goldman Sachs, and several startups across the U.S., EMEA, and Egypt. Together, they blend expertise in financial markets, digital product design, and inclusive finance.

Mazen El Kerdany, CEO, stated:

"We’re grateful to our investors for backing our vision. PALM is designed to empower Egyptians to achieve their financial goals through consistent, intelligent saving. With trillions held in bank deposits, gold, and real estate, the issue isn’t savings capacity—it’s access to tools that offer real returns and personal alignment."

He emphasized that Egypt’s traditional model of saving what's left after spending is no longer sustainable. PALM addresses this by embedding investment and goal planning directly into the spending process—making saving proactive, intentional, and rewarding. This aligns with broader national objectives under Egypt’s Vision 2030, including expanding financial inclusion and deepening public engagement with capital markets.

The newly secured funding will enable PALM to broaden its offerings, grow its user base, and strengthen partnerships with merchants and institutions. The company also plans to invest in product innovation and deeper community engagement to build a culturally relevant savings habit across Egypt and the wider Mediterranean.

Investor Perspectives

Peter Orth, Co-founder of 4DX Ventures, remarked:

“PALM is uniquely positioned to transform how people in Africa think about financial wellness. Their blend of meaningful returns and real-world value creation reflects the kind of long-term impact we support.”

Hasan Haider, Managing Partner at Plus VC, added:

“PALM addresses a fundamental gap in how individuals manage and plan for major life costs. With strong leadership and a focused product vision, the team is on track to redefine the personal finance landscape in Egypt and beyond.”

Ahmed Ashour, Co-founder, explained:

“Managed investment services are largely inaccessible for most Egyptians due to high fees and barriers to entry. PALM offers a smart, lifestyle-aligned alternative that is personalized, accessible, and rewarding—regardless of income level.”

As it moves forward, PALM is poised to become a cornerstone in the region’s shift toward inclusive, tech-enabled savings solutions. By merging behavioral science, financial technology, and investment accessibility, PALM is setting a new benchmark for how people save, plan, and build wealth—one goal at a time.