PALM closes 7-figure pre-seed  to transform savings culture in Egypt

Egyptian fintech startup PALM has closed a seven-figure pre-seed funding round led by 4DX Ventures, with participation from Plus VC and several international angel investors. This strategic investment will power PALM’s mission to transform how Egyptians save and achieve life goals through a smarter, more personalized, and rewarding savings platform.

Founded by Mazen El Kerdany and Ahmed Ashour, PALM is Egypt’s first goal-based saving platform that blends behavioral technology with embedded finance, helping users turn aspirations like education, healthcare, travel, and homeownership into tangible outcomes. The platform uses a unique approach that incentivizes users with rewards for consistency and offers curated investment options across equities, fixed income, and precious metals, combined with exclusive merchant deals to maximize the real value of savings.

The inspiration behind PALM stems from the urgent need for more accessible, goal-aligned financial tools. Despite Egyptians holding over EGP 85 trillion in traditional assets, such as deposits, gold, and real estate, most lack easy-to-use digital tools that generate real returns or align with personal milestones. PALM addresses this by embedding investment into daily financial behavior, turning saving into a mindful, habitual process while enhancing financial literacy and inclusion.

Mazen El Kerdany, PALM’s CEO, emphasized that the support from investors signals a strong belief in the platform’s potential to shift Egypt’s financial culture. “The old formula of ‘earn, spend, save what’s left’ doesn’t work anymore,” he noted. “With PALM, we’re enabling smarter spending and structured saving, giving people real incentives and returns along the way.”

The fresh capital will be used to accelerate user acquisition, expand product capabilities, and build strategic partnerships that enhance the customer experience. PALM also aims to strengthen its position as a culturally relevant financial solution, helping users align financial planning with real-life events, making saving not just a habit, but a way of life.

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Commenting on the 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.”

As PALM looks ahead, it is positioning itself as the go-to financial partner for life’s milestones. By using technology to embed financial empowerment into everyday life, the startup is well on its way to becoming a transformative force in the Middle East and North Africa region (MENA)’s personal finance landscape.