Egyptian fintech startup PALM has officially launched the country’s first incentivized goal-based savings application, following the successful close of its pre-seed funding round led by 4DX Ventures with participation from Plus VC and global angel investors. The company also announced the acquisition of its Portfolio Management License from the Financial Regulatory Authority (FRA), allowing it to directly manage investments for retail customers. This milestone positions PALM as a pioneer in democratizing access to smart, flexible, and personalized financial planning tools for Egyptians.
Transforming Savings into Smarter Financial Journeys
PALM’s platform seeks to reimagine personal savings by combining ease of use with professional investment management traditionally reserved for high-net-worth individuals. Through the mobile application, users can create savings plans for life goals such as education, travel, healthcare, marriage, buying a car, or owning a home. The app provides competitive daily yields with zero deposit, withdrawal, or transaction fees, making financial planning more accessible and attractive.
A Rich and Flexible User Experience
The application offers a wide range of user-centric features that enable individuals to save on their own terms. Customers can manage multiple goals simultaneously, select between locked and unlocked plans, and choose flexible or installment-style savings options. PALM also accommodates preferences for Sharia-compliant products and integrates merchant-linked saving plans, allowing users to spend directly with partner businesses while maximizing returns.
Seamless Account Setup and Management
Account creation is designed to take only minutes, and once registered, users can immediately set financial goals and fund them through InstaPay or bank transfers. The platform’s real-time progress tracking motivates savers by showing investment gains and additional merchant rewards as they accumulate. Whether cashing out directly to bank accounts or redeeming funds with partner merchants, the app ensures flexibility and a frictionless experience.
Investing Across Diverse, Regulated Asset Classes
To secure customer funds, PALM invests across high-quality, regulated asset classes including gold, fixed income securities such as treasury bills and bonds, and shares traded on the Egyptian Stock Exchange. All funds are custodied in Egyptian banks to ensure safety and compliance with local regulations. This strategy not only enhances user confidence but also encourages broader participation in Egypt’s financial markets.
Leadership Perspective on Financial Inclusion
Mazen El Kerdany, Co-Founder and CEO of PALM, emphasized the significance of securing the FRA license, describing it as both a regulatory achievement and a validation of the company’s mission. He noted that PALM is designed to turn savings into a motivating experience that combines wealth growth with practical rewards through its merchant network. El Kerdany highlighted that channeling retail savings into productive financial assets can help deepen market participation and contribute to sustainable economic growth.
Bridging the Gap in Egypt’s Savings Landscape
Co-Founder and Chief Business Officer Ahmed Ashour pointed out the challenges Egyptians face when trying to grow their savings. He explained that individuals are often forced to either invest on their own with little guidance or leave their money idle, losing value over time. PALM aims to resolve this dilemma by offering everyday savers the same professional tools and strategies once limited to the wealthy, effectively narrowing the savings-investment gap.
More Than Just Saving: Smarter Spending
PALM’s exclusive merchant partnerships add another layer of value by allowing users to benefit from discounts and rewards while saving for their goals. This integration ensures that savings not only grow but also stretch further in everyday spending, creating a positive feedback loop for users. The app effectively blends personal finance with lifestyle benefits, making the process of saving more engaging and rewarding.
The launch of PALM represents a landmark moment for Egypt’s fintech sector, marking the arrival of a truly user-focused, goal-based investment solution. By combining professional portfolio management, a seamless digital experience, and an ecosystem of merchant benefits, PALM is reshaping how Egyptians think about saving and investing. As the app rolls out nationwide, it sets the stage for a new era in which financial well-being is both attainable and empowering for millions of individuals.