Cairo – Mubasher: PALM, a fintech startup offering incentivized goal-based saving in Egypt, has closed its pre-seed seven-figure funding round, according to a press release.
The investment round was led by 4DX Ventures with participation from Plus VC and several international angel investors.
PALM will utilize the new fund to focus on accelerating user acquisition, expanding its product use cases, and strengthening its network of strategic partners.
This next phase will also support product innovation and deeper market engagement as PALM works toward its long-term ambition of reaching millions across the Mediterranean while aiming to become the go-to financial partner for life’s milestones and empowering users to plan, save, and grow their wealth with confidence.
Co-Founder and CEO of PALM, Mazen El-Kerdany, said: “We’re incredibly grateful to our investors for their trust and belief in PALM’s vision. Their support empowers us to accelerate our mission of transforming how Egyptians save and achieve their life goals.”
El-Kerdany noted: “We launched PALM to help Egyptians take control of their financial future by turning gradual saving into a smarter, more rewarding habit.”
He elaborated: “Egyptians collectively hold EGP 8 trillion in bank deposits, EGP 7 trillion in gold, and EGP 70 trillion in real estate. The challenge isn’t the ability to save but the lack of accessible tools that deliver real returns, diversification, and align with personal goals.”
The startup offers a seamless and personalized saving experience designed to help users achieve their various life goals, whether to fund basic needs such as education and healthcare, saving for marriage or afford their key purchases such as travel, home appliances and electronics.
It further combines traditional investment tools with modern behavioral nudges, rewarding users for consistency and progress.
Ahmed Ashour, Co-Founder of PALM, stated: “Currently, Egyptians have limited options when it comes to managed investments due to high fees and minimum investment tickets required for such services, we are changing how Egyptians save. We will offer Egyptians a modern saving experience that caters to their lifestyle needs, aligns with their interests, and helps them along their financial journeys regardless of their income levels or assets.”
Commenting on the fundraising announcement, Hasan Haider, Founder and Managing Partner, at Plus VC, said: “PALM is redefining money management by helping individuals plan and manage major life expenses with expert strategies and exclusive deals. They’re addressing a critical gap in personal finance and are well-positioned to become a trusted financial companion for the next generation.”
