Egypt-based fintech PALM has raised a 7-figure USD pre-seed funding round led by 4DX Ventures, with additional backing from Plus VC and a group of international angel investors. This milestone sets the stage for the company’s ambitious mission, to become the go-to savings partner across the Mediterranean.
Smarter Saving for Life Goals
Launched in 2024 by Mazen El Kerdany and Ahmed Ashour, PALM aims to help Egyptians save for meaningful life goals, like education, healthcare, marriage, travel, or big-ticket purchases, through a mobile-first experience that’s simple, goal-driven, and personalized.
The platform blends traditional investment tools with modern behavioral nudges, offering users:
- ✅ Curated portfolios across fixed income, equities, and precious metals
- ✅ Exclusive merchant deals that reduce spending and boost savings value
- ✅ Incentives for consistent saving and reaching milestones
- ✅ A user experience that’s engaging, intuitive, and culturally relevant
PALM’s core promise: “All life goals, in your PALM.”
Founders with Real-World Expertise
PALM is built on deep experience across finance and tech.
- ✅ Mazen El Kerdany, CEO, is a seasoned investment executive who previously managed over $2 billion in assets at firms like EFG Hermes and Beltone Financial.
- ✅ Ahmed Ashour brings over 10 years of global experience from Amazon, Goldman Sachs, and several fintech startups across EMEA and the U.S.
Together, they combine sharp financial knowledge with a strong product and technology mindset to tackle a key challenge: how Egyptians save and invest.
“We want to help Egyptians take control of their financial future,” said Mazen. “The challenge isn’t saving, it’s having the right tools to do it wisely.”
Solving a National Need
Egyptians collectively hold EGP 8 trillion in bank deposits, EGP 7 trillion in gold, and EGP 70 trillion in real estate. Yet, there’s a lack of smart, accessible saving tools that align with real-life goals.
PALM steps in with a goal-based model, making saving more strategic and outcome-focused. By embedding investment into everyday spending decisions, the platform builds habits that support:
- ✅ Financial inclusion
- ✅ Long-term resilience
- ✅ Wider participation in capital markets, key elements of Egypt’s Vision 2030
Investor Confidence Runs High
Backers see PALM as a game-changer in the region.
“PALM is making financial wellness practical,” said Peter Orth, Co-founder of 4DX Ventures.
“They’re turning saving into a rewarding, wealth-building habit,” added Hasan Haider, Managing Partner at Plus VC.
With this new round, PALM will:
- ✅ Accelerate user acquisition and market reach
- ✅ Expand product features and investment options
- ✅ Deepen its merchant network and strategic partnerships
The Road Ahead
“Our goal is to make saving second nature for Egyptians,” said Ahmed Ashour. “We’re creating tools that meet people where they are, no matter their income, lifestyle, or goals.”
With this strong start, PALM is not just reshaping personal finance in Egypt, it’s laying the groundwork for a Mediterranean-wide movement toward better financial habits and smarter wealth building.