PALM, Egypt’s pioneering fintech startup that focuses on goal-based savings, has successfully closed a 7-figure pre-seed funding round to power its mission to transform how Egyptians reach their life goals and grow their savings with a smarter, more personalized, and rewarding platform.
The funding round was led by 4DX Ventures and also got support from other investors, including Plus VC and a group of international angel investors. PALM—founded by Mazen El Kerdany and Ahmed Ashour—aims to transform Egypt’s savings culture by offering a personalized platform that integrates traditional investment tools with behavioral nudges.
If these goals are achieved, users will be able to save for milestones like education, healthcare, and travel. The platform optimizes asset allocations across fixed income, equities, and precious metals while offering exclusive merchant deals to maximize savings. In addition to that, the platform also takes a distinctive approach to offering rewards to users who save consistently.
The funding will be used to fuel user acquisition, product expansion, and strategic partnerships. PALM now has the potential to redefine financial planning that'll support Egypt’s Vision 2030 goals for financial inclusion and expand across the Middle East and North Africa (MENA) region with these new funds.
PALM's Missions
The main purpose PALM was established for is to transform savings culture in Egypt, and the company is doing so by offering accessible and goal-driven tools that help users save and invest more often. It's also worth noting that Egyptians hold trillions in traditional assets, yet many still lack digital solutions that are in line with their life goals.
PALM changes this by integrating saving into daily routines and encouraging smarter financial habits. The new secured funds will also boost these operations. According to the company's CEO Mazen El Kerdany, the platform can reshape the country’s financial mindset that'll make it shift from outdated savings methods to a more structured and reward-based method.
PALM plans to use these newly secured funds to grow its user base, enhance its products, and secure more strategic key partnerships for the betterment of the overall experience. The company is aiming toward becoming a culturally relevant financial savings companion that everyone can go to when they think of savings.
