Egyptian fintech startup PALM has closed a 7-figure pre-seed funding round led by 4DX Ventures, with participation from Plus VC and international angel investors. The Cairo-based company builds goal-based savings tools that combine smart investing with behavioral nudges to help Egyptians reach their financial milestones.
PALM Targets $155 Trillion Savings Market
PALM addresses a major gap in Egypt’s financial system. Egyptians collectively hold EGP 8 trillion in bank deposits, EGP 7 trillion in gold, and EGP 70 trillion in real estate. Yet most lack accessible investment tools that deliver real returns and align with personal goals.
The startup was founded in 2024 by Mazen El Kerdany and Ahmed Ashour. El Kerdany brings asset management expertise, having managed around $2 billion at EFG Hermes, Beltone Financial Holding, and Post for Investment. Ashour spent over 10 years at Amazon, Goldman Sachs, and fintech companies across EMEA and the United States.
PALM Redefines Goal-Based Savings Through Smart Technology
PALM’s platform helps users save for specific life goals—education, healthcare, marriage, travel, or major purchases. The app combines traditional investment strategies with behavioral psychology to reward consistent saving habits.
The platform curates asset allocations across fixed income, equities, and precious metals. Users also get exclusive merchant deals that reduce spending costs while boosting savings value. This approach moves beyond the outdated “earn, spend, save what’s left” model toward proactive financial planning.
“We launched PALM to help Egyptians take control of their financial future by turning gradual saving into a smarter, more rewarding habit,” said Mazen El Kerdany, co-founder and CEO. “The old formula no longer works. Today, spending smarter and saving more requires financial planning and a proactive mindset.”
Investment Funding Accelerates User Growth and Product Development
The fresh capital will support customer acquisition, product expansion, and strategic partnerships. PALM plans to enhance its platform and extend market reach across the Mediterranean region, aiming to serve millions of users.
“Currently, Egyptians have limited options when it comes to managed investments due to high fees and minimum investment tickets required for such services. We will offer Egyptians a modern saving experience that caters to their lifestyle needs, aligns with their interests, and helps them along their financial journeys regardless of their income levels or assets.” explained Ahmed Ashour, co-founder. “
4DX Ventures Backs African Financial Innovation
4DX Ventures has invested in 42 companies as of July 2024, primarily focusing on seed-stage startups in Egypt and across Africa. The firm sees strong potential in transforming financial wellness across the continent.
“We believe PALM has the potential to transform financial wellness across the continent. By making it easier to save, delivering real returns, and unlocking meaningful discounts on major expenses, PALM helps users build lasting wealth.” said Peter Orth, co-founder of 4DX Ventures.
Plus VC, which has made 65 investments with a focus on MENA region startups, joined the funding round. The firm sees PALM as addressing critical gaps in personal finance management.
“PALM is redefining money management by helping individuals plan and manage major life expenses with expert strategies and exclusive deals. They’re addressing a critical gap in personal finance and are well-positioned to become a trusted financial companion for the next generation.” said Hasan Haider, founder and managing partner at Plus VC.
Egyptian Fintech Sector Gains Momentum in 2025
PALM’s funding comes as Egypt’s fintech sector experiences growing investor interest. The startup’s approach aligns with Egypt’s Vision 2030 goals for financial inclusion and increased household participation in capital markets.
The company’s vision extends beyond individual wealth building to support broader economic goals. PALM is contributing to national objectives around financial resilience and market participation by helping people develop healthy savings habits,
