PALM, an emerging Egyptian fintech platform dedicated to goal-based saving, has announced the successful closure of a seven-figure pre-seed funding round. The investment was led by Africa-focused venture capital firm 4DX Ventures, with additional participation from Plus VC and a group of global angel investors. This milestone marks a significant step toward PALM’s ambition to transform how Egyptians plan, save, and invest for life’s most important milestones.
Building a New Approach to Saving
Founded by Mazen El Kerdany and Ahmed Ashour, PALM aims to reimagine personal finance by making saving simpler, more engaging, and aligned with users’ aspirations. The platform offers a personalized experience that blends behavioral incentives with embedded financial tools, enabling Egyptians to gradually build wealth while enjoying exclusive rewards. By integrating traditional investment options across fixed income, equities, and precious metals, PALM helps users diversify their savings and achieve tangible goals ranging from education and healthcare to major purchases.
Experienced Leadership Driving the Vision
Mazen El Kerdany, who serves as CEO, brings a strong background in asset management, having previously overseen portfolios valued at approximately USD 2 billion across leading institutions like EFG Hermes, Beltone Financial Holding, and Post for Investment. His co-founder, Ahmed Ashour, has more than a decade of experience in technology and finance, including roles at Amazon, Goldman Sachs, and various fintech ventures across EMEA and the US. Together, they combine domain expertise and a shared vision of driving financial inclusion and better outcomes for Egypt’s savers.
Challenging Outdated Financial Habits
In announcing the funding, El Kerdany highlighted the urgent need for modern solutions that reflect the realities of how Egyptians manage their money. He noted that Egyptians collectively hold trillions of pounds in deposits, gold, and real estate, yet accessible, goal-driven investment products remain scarce. PALM’s model challenges the traditional paradigm of spending first and saving what remains, replacing it with a proactive, outcome-focused approach that empowers individuals to link savings with their aspirations.
Making Saving Inclusive and Rewarding
Ahmed Ashour emphasized that the platform is designed to be inclusive, addressing barriers such as high minimum investment requirements and fees that have historically limited access to managed financial products. He said PALM’s vision is to build a cultural movement around saving by making it easy, personalized, and rewarding for Egyptians at every income level. With plans to integrate exclusive merchant partnerships and deliver meaningful discounts on major expenses, the company aims to help users stretch their savings further while fostering positive financial habits.
Investor Confidence in PALM’s Potential
Peter Orth, Co-founder of lead investor 4DX Ventures, described PALM as a business with the potential to drive long-term prosperity across the continent. He underscored the alignment between PALM’s mission and 4DX’s focus on supporting companies that improve economic resilience and opportunity in Africa. Orth expressed confidence in the founding team’s experience and determination to build a platform that can deliver real returns and financial empowerment for millions of users.
Strategic Support from Plus VC
Hasan Haider, Founder and Managing Partner at Plus VC, echoed this sentiment, pointing to PALM’s ability to fill a critical gap in the personal finance landscape. He credited the team’s execution and deep understanding of user needs as key differentiators that will help the platform become a trusted financial partner. Haider also noted that PALM’s focus on integrating financial planning with everyday spending habits reflects a modern approach that resonates with younger generations.
Roadmap for Growth and Expansion
With fresh capital in hand, PALM plans to accelerate user acquisition, broaden its product offering, and strengthen strategic partnerships to reach a wider audience. The company is also investing in technology enhancements and market engagement initiatives to support its long-term goal of becoming the go-to savings platform across the Mediterranean region. As part of this expansion, PALM intends to embed its services more deeply into users’ daily financial decisions, driving both individual wealth creation and broader economic inclusion.
In the coming months, PALM will focus on scaling its operations and refining its product to deliver on its promise: to help people confidently turn their life goals into achievable financial outcomes. By combining behavioral insights, diversified investment strategies, and a seamless user experience, the startup is positioning itself as a catalyst for a new era of personal savings in Egypt and beyond. As it charts its next phase of growth, PALM remains committed to redefining how people think about saving, spending, and investing for the future.