Palm, a rising Egyptian fintech startup focused on incentivized, goal-oriented saving, has successfully closed its pre-seed funding round. The round was led by prominent venture capital firm 4DX Ventures, with additional backing from Plus VC and a group of international angel investors.
Palm is on a mission to transform how individuals in Egypt and beyond approach personal finance. The platform offers a personalized saving experience tailored to help users achieve a wide range of life goals—from essential needs like education and healthcare to aspirational purchases such as travel, home appliances, and electronics. By integrating traditional investment strategies with modern behavioral science, Palm encourages users to save consistently and rewards them for staying on track.
The platform intelligently allocates users’ savings across a diversified portfolio that includes fixed income instruments, equities, and precious metals, optimizing returns while aligning with each user’s specific financial objectives.
Palm was co-founded by Mazen El Kerdany and Ahmed Ashour, two seasoned entrepreneurs with a shared vision of making financial planning more accessible and impactful for everyday Egyptians.
In a statement regarding the funding round, Mazen El Kerdany, co-founder and CEO of Palm, noted:
We created Palm to empower Egyptians to take control of their financial future. In Egypt, individuals collectively hold over EGP 8 trillion ($162 billion) in bank deposits, EGP 7 trillion ($141.8 billion) in gold, and EGP 70 trillion ($1.4 trillion) in real estate. The issue isn’t a lack of savings—it’s the absence of tools that offer real returns, diversification, and alignment with personal goals. The old model of ‘earn, spend, save what’s left’ is outdated. Palm flips that script by embedding investment into everyday spending, making saving a more mindful, goal-driven, and rewarding habit.
Peter Orth, co-founder of 4DX Ventures, expressed strong confidence in Palm’s potential to reshape financial wellness across Africa:
Palm is uniquely positioned to make saving easier, more rewarding, and more impactful. By delivering real returns and offering meaningful discounts on major life expenses, Palm helps users build lasting wealth. This aligns perfectly with our mission to support visionary teams driving long-term prosperity across the continent. We’re thrilled to partner with Mazen and Ahmed on this journey.
Hasan Haider, founder and managing partner at Plus VC, echoed this sentiment:
Palm is redefining how people manage money by helping them plan for and navigate major life expenses with expert strategies and exclusive offers. They’re filling a critical gap in the personal finance space and are poised to become a trusted financial partner for the next generation. With a clear vision, strong execution, and deep product insight, we’re proud to support the Palm team as they pioneer a smarter, more empowering approach to financial wellness.
With this new capital, Palm plans to accelerate product development, expand its user base, and deepen its impact on financial literacy and inclusion across Egypt and the wider region.
