Revolutionary startup PALM secures significant pre-seed funding, focused on transforming destination-specific savings in Egypt.
In the heart of Cairo, a new fintech venture named PALM is making waves in Egypt's financial landscape. Founded in 2024 by Mazen El Kerdany and Ahmed Ashour, who brings global experience from Amazon and Goldman Sachs, PALM is Egypt's first goal-based, incentivized savings platform [2][4].
The platform, designed to help users save smartly towards life goals such as education, healthcare, marriage, or travel, uses personalized saving experiences driven by behavioral nudges, rewarding users for consistent saving progress [1][3]. PALM's investment strategy involves curating optimal asset allocations across asset classes like fixed income, equities, and precious metals, aiming to maximize returns while minimizing out-of-pocket expenses through partnerships with a growing merchant network offering exclusive deals [1].
This approach embeds investment into the spending and saving process, promoting mindful, goal-oriented financial habits aligned with Egypt’s Vision 2030 goals on financial inclusion and capital market participation [1].
PALM recently closed a seven-figure pre-seed funding round led by 4DX Ventures with participation from Plus VC and international angel investors [1][5]. This funding will support PALM in expanding its user base and developing new features tailored to Egypt's distinct savings habits.
However, as of mid-2025, specific current user statistics or detailed metrics on active users or growth rates are not publicly disclosed. The focus has been on the platform’s innovative model, funding achievements, and future potential to transform how Egyptians save.
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. He aims to provide a platform that empowers individuals to set financial goals, develop consistent saving habits, and access investment opportunities that fit seamlessly into their everyday routines [6].
The real challenge for PALM lies in scaling and proving its ability to navigate life's key financial decisions. Users can earn incentives for staying consistent, and the app seeks to generate real returns via diversified investments. The capital raised will also be used to broaden savings and investment offerings.
As fintech solutions rise across North Africa, PALM's emphasis on goal-based saving may resonate. The platform's approach aligns with Egypt's Vision 2030 objectives, promoting financial inclusion. With its unique blend of behavioural technology, embedded finance, and a focus on financial planning, PALM is poised to revolutionize the way Egyptians save and invest.
| Aspect | Details | |-------------------------|-------------------------------------------------------------------------------------------------| | Founded | 2024 | | Core Offering | Goal-based, incentivized savings platform integrating investment strategies and behavioural tech | | Investment Strategy | Asset allocation across fixed income, equities, precious metals; exclusive merchant deals | | Funding | Seven-figure pre-seed round (led by 4DX Ventures, Plus VC, angel investors) | | Scaling Status | Early-stage; expanding platform with recent funding | | User Statistics | Not publicly disclosed as of mid-2025 | | Future Goals | Scaling, proving ability to navigate life's key financial decisions, broadening savings and investment offerings |
Sources: [1] TechCrunch, 2025, "Egypt’s PALM raises seven-figure pre-seed for goal-based savings platform", [link] [2] MENAbytes, 2025, "Egypt-based fintech startup PALM raises pre-seed funding", [link] [3] PALM website, 2025, "About Us", [link] [4] PALM website, 2025, "How it Works", [link] [5] Wamda, 2025, "Egypt's PALM raises pre-seed funding for goal-based savings platform", [link] [6] MENAbytes, 2025, "Interview: Mazen El Kerdany, CEO and Co-founder of PALM", [link]
- One of the key strategies of PALM, a pioneering fintech venture in Cairo, is to integrate personal-finance education and self-development into its platform, which aims to teach individuals effective ways to save and invest in areas such as business, education, and personal well-being.
- By leveraging technology, including behavioral nudges and rewards for consistent saving, PALM's focus on financial inclusion aims to revolutionize the financial landscape of Egypt, as part of the Vision 2030 goals, enabling users to invest in various asset classes like finance, equities, fixed income, and precious metals.
- Positioning itself as a tool to bridge the gap between the desire and ability to save and invest, PALM plans to achieve this through technologies such as embedded finance, which seeks to bring investment opportunities and financial planning resources into users' everyday lives, empowering individuals to reach their financial goals.
