Egypt-based fintech PALM raises 7-figure pre-seed round to champion ‘smarter savings’

Egypt-based fintech PALM has raised an undisclosed 7-figure pre-seed funding round backed by 4DX Ventures with participation from Plus VC and several international angel investors. The startup has been focused on making savings easy for its customers through various incentives. 

According to reports, the funding will be structured to develop its product offerings by expanding partnerships across its ecosystems and reach the goal of serving millions of customers across North Africa.

Speaking about the raise, PALM co-founder and CEO, Mazen El Kerdany, noted that the startup was launched to help Egyptians take control of their financial future by turning consistent saving into a worthwhile experience. He stressed that the Egyptians’ challenge isn’t the ability to save but the gap in accessing tools that deliver real returns, diversification, and alignment with personal goals.

Egyptians collectively hold EGP 8 trillion in bank deposits, $141 billion in gold, and $1.4 trillion in real estate. With this, Mazen believes that the old formula of ‘earn-spend-save what is left’ no longer works, and spending smarter and saving more requires financial planning and a proactive mindset, which is what PALM is trying to create. 

“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,” he added.

The Cairo-based startup, with its incentivised saving strategy, is positioning itself to play a key role in advancing financial inclusion in Egypt and across the North African region. It aims to reach this goal by offering a savings platform that’s low-barrier, digitally native, and integrated with everyday spending.

While explaining their funding decision, Co-founder and Managing Partner at 4DX Ventures, Peter Orth, said he believes PALM has the potential to transform financial wellness across Africa by making it easier to save, delivering real returns, and unlocking meaningful discounts on major expenses. 

Also Read: Nigerian startups raised $26m of over $300m equity funding by African startups in Q2 2025.

Also, Co-founder Ahmed Ashour explained that Egyptians possess limited options when it comes to managed investments. This is credited to high fees and minimum investment tickets required for such services.

“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. Our vision is to embed saving as a cultural movement by offering innovative products that make saving fun, personalised, hassle-free, and rewarding for everyone,” Ahmed noted.

How PALM is implementing ‘smarter savings’

Founded in 2024, PALM has created a digital platform aimed at helping Egyptians achieve important life goals through efficient savings. 

In its implementation, the fintech startup blends traditional investment strategies with behavioural style to reward users for consistency. It also combines returns from diversified assets like equities, fixed income, and precious metals with exclusive merchant deals to enhance value and reduce day-to-day costs.

“PALM enables that by embedding investment into the spending process—making it more mindful, goal-driven, and outcome-focused. By helping people build healthy savings habits, PALM not only empowers individuals, it supports broader national goals like financial inclusion, resilience and increased household participation in capital markets, as outlined in Egypt’s Vision 2030,” Mazen explained.

Through turning passive saving into a proactive lifestyle habit with its app, PALM plans to expand its user base, launch new features, and strengthen partnerships, building toward a broader vision of becoming the financial companion for life’s milestones across the country.

Palm’s co-founder and CEO, Mazen, previously held senior roles at EFG Hermes and Beltone Financial and managed around $2 billion in assets. His co-founder, Ahmed, is a former Amazon and Goldman Sachs executive with experience across fintech and consumer startups in the U.S., Europe, the Middle East and Africa (EMEA).