Egyptian FinTech startup PALM, a platform focused on incentivised goal-based saving, has announced the successful close of its pre-seed funding round.
The round, described as a seven-figure raise, was led by 4DX Ventures and saw participation from Plus VC alongside several international angel investors, according to a report from wamda.
PALM has developed a digital platform aimed at helping Egyptians achieve important life goals through smarter savings. The solution blends traditional investment strategies with behavioural nudges to reward users for consistency, combining returns from diversified assets like equities, fixed income, and precious metals with exclusive merchant deals to enhance value and reduce day-to-day costs.
The fresh capital will be used to accelerate customer acquisition, develop new use cases for the product, and expand PALM’s ecosystem of strategic partnerships. The company is also focused on enhancing its product offering and extending its market reach, with ambitions to serve millions across the Mediterranean.
Mazen El Kerdany, co-founder and CEO of PALM, said, “We’re incredibly grateful to our investors for their trust and belief in PALM’s vision. Their support empowers us to accelerate our mission of transforming how Egyptians save and achieve their life goals.”
“We launched PALM to help Egyptians take control of their financial future by turning gradual saving into a smarter, more rewarding habit. Egyptians collectively hold EGP 8 trillion in bank deposits, EGP 7 trillion in gold, and EGP 70 trillion in real estate. The challenge isn’t the ability to save but the lack of accessible tools that deliver real returns, diversification, and alignment with personal goals. The old formula—earn, spend, save what is left—no longer works. Today, spending smarter and saving more requires financial planning and a proactive mindset.
“PALM enables that by embedding investment into the spending process—making it more mindful, goal-driven, and outcome-focused. By helping people build healthy savings habits, PALM not only empowers individuals, it supports broader national goals like financial inclusion, resilience and increased household participation in capital markets, as outlined in Egypt’s Vision 2030.”
PALM co-founder Ahmed Ashour said, “Currently, Egyptians have limited options when it comes to managed investments due to high fees and minimum investment tickets required for such services; we are changing how Egyptians save.
“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. Our vision is to embed saving as a cultural movement by offering innovative products that makes saving fun, personalized, hassle-free, and rewarding for everyone.”
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