PALM Raises Seven-Figure Pre-Seed Round to Revolutionize Goal-Oriented Savings in Egypt
PALM, an Egyptian fintech startup, has raised a seven-figure pre-seed round led by 4DX Ventures, with participation from Plus VC and various international angel investors.
Based in Cairo and founded by Mazen El Kerdany and Ahmed Ashour, PALM is developing a goal-oriented savings platform designed to help Egyptians manage their finances and achieve personal goals through smart investment tools and rewards.
Instead of providing a typical digital wallet or basic savings solution, PALM adopts a more tailored and structured strategy.
Users can define clear life goals like saving for education, healthcare, travel, or major purchases which are then matched with tailored investment strategies.
The app promotes long-term saving by combining fixed income, equities, and precious metals with behavioral rewards, while also providing access to special deals from partner merchants.
The core idea is straightforward: saving should be both disciplined and rewarding. Users earn incentives for staying consistent, while the app seeks to generate real returns via diversified investments and cut excess spending through built-in perks.
In practice, this means a user saving for a washing machine or vacation could reach their goal sooner and potentially spend less when making the purchase.
CEO El Kerdany believes the issue isn’t a lack of saving ability among Egyptians, but rather the absence of tools that help their money grow more effectively.
Bank deposits stand at approximately EGP 8 trillion, gold holdings approach EGP 7 trillion, and real estate assets exceed EGP 70 trillion indicating a vast amount of idle capital within the system.
What’s missing is a platform that empowers individuals to set financial goals, develop consistent saving habits, and access investment opportunities that fit seamlessly into their everyday routines.
The co-founders combine deep industry expertise: El Kerdany has overseen multi-billion-dollar investments at EFG Hermes and Beltone, while Ashour brings global experience from Amazon and Goldman Sachs.
Together, they aim to reshape how Egyptians approach money moving away from the passive “save what’s left” mindset toward a structured, goal-driven savings model aligned with everyday earning and spending habits.
The newly raised capital will support PALM in expanding its user base, broadening its savings and investment offerings, and strengthening collaborations with merchants and financial partners.
The company also aims to roll out new features tailored to Egypt’s distinct savings habits, making the platform more accessible and relevant to a broader audience, especially the underbanked.
More broadly, PALM’s approach aligns with Egypt’s Vision 2030 objectives, especially in promoting financial inclusion and encouraging greater household involvement in capital markets.
It also reflects a regional shift: fintechs are moving beyond simple digitization to actively guiding users toward better financial planning and improved outcomes.
As fintech solutions continue to rise across North Africa, PALM’s emphasis on goal-based saving may resonate in a market where financial planning remains largely informal and reactive.
The real challenge lies in scaling, proving whether PALM can evolve into a trusted platform not only for savings but for navigating life’s key financial decisions.
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