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Egyptian fintech startup PALM has raised a seven-figure pre-seed funding round led by 4DX Ventures, with participation from Plus VC and a group of international angel investors.
Founded by Mazen El Kerdany and Ahmed Ashour, and based in Cairo, PALM is developing a goal-oriented savings platform designed to help Egyptians manage their finances and achieve personal financial milestones through smart investment tools and rewards.
According to a report by Tech in Africa, PALM differentiates itself from traditional digital wallets and basic savings apps by offering a more structured and personalized approach. Users can set specific goals—such as saving for education, healthcare, travel, or major purchases—which the platform then matches with customized investment strategies.
The app encourages long-term saving by combining investment in fixed income assets, equities, and precious metals, alongside behavioral rewards and exclusive offers from partner merchants.
“The idea is simple: saving should be both disciplined and rewarding,” said CEO El Kerdany. “Users are incentivized to stay consistent with their goals, while the platform helps generate returns through diversified investments and reduces spending through built-in perks.”
El Kerdany noted that the challenge in Egypt is not a lack of saving capacity, but the absence of tools that enable individuals to grow their money effectively.
He pointed to approximately EGP 8 trillion in bank deposits, EGP 7 trillion in gold holdings, and over EGP 70 trillion in real estate assets as evidence of significant idle capital in the economy.
“What’s missing is a platform that empowers users to set financial goals, build consistent saving habits, and access investment opportunities that fit into their daily lives,” he added.
The co-founders bring significant industry experience to the venture.
El Kerdany previously managed multi-billion-dollar investments at EFG Hermes and Beltone, while Ashour brings global expertise from Amazon and Goldman Sachs.
With the newly secured funding, PALM plans to expand its user base, enhance its range of savings and investment options, and strengthen partnerships with merchants and financial institutions.
The startup also aims to introduce new features tailored to Egypt’s unique saving behaviors, with a particular focus on reaching the underbanked population.
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