Egyptian Fintech PALM Raises 7-Figure Pre-Seed To Revolutionise Savings

Cairo-based fintech startup PALM has secured seven-figure pre-seed funding led by 4DX Ventures, with participation from Plus VC and global angel investors. The company offers a goal-based savings app that helps Egyptians save for life milestones—from education and healthcare to travel and electronics—through smart investments and exclusive merchant deals.

Founded by Mazen El Kerdany (ex-EFG Hermes) and Ahmed Ashour (ex-Amazon, Goldman Sachs), PALM combines automated investing (in fixed income, equities, and gold) with behavioural nudges to make saving rewarding. With Egyptians holding EGP 8 T in bank deposits but lacking accessible investment tools, PALM aims to replace the outdated “save what’s left” approach with proactive, goal-driven planning.

The funds will boost user growth, product innovation, and partnerships, aligning with Egypt’s Vision 2030 financial inclusion goals. Investors praise PALM’s potential to transform wealth-building in Africa by making savings culturally relevant, hassle-free, and high-value.