Egypt-based Fintech PALM has Raised a 7-figure Pre-seed Round to Champion Smarter Savings

Egypt-based fintech PALM has raised a 7-figure pre-seed round to champion smarter savings, marking a significant milestone in the region’s financial technology landscape. This funding round was led by 4DX Ventures, with participation from Plus VC and several international angel investors. The undisclosed seven-figure amount will help the startup expand its innovative savings platform and deepen partnerships across North Africa, aiming to serve millions of customers.

Founded in 2024 by Mazen El Kerdany and Ahmed Ashour, Egypt-based fintech PALM has designed its platform to make saving easier, more rewarding, and aligned with its users’ personal financial goals. Mazen, the co-founder and CEO, explained that the core challenge for Egyptians isn’t the ability to save but the lack of accessible tools that deliver real returns and offer investment diversification. With Egyptians holding massive assets estimated at EGP 8 trillion in bank deposits, alongside substantial wealth in gold and real estate, PALM seeks to change the outdated “earn-spend-save what is left” habit by promoting smarter spending and goal-driven financial planning.

PALM’s platform blends traditional investment strategies with behavioral nudges that encourage consistency and reward savers for meeting their goals. It offers diversified asset allocations, including equities, fixed income, and precious metals, combined with exclusive merchant deals to enhance the value of savings while reducing everyday costs. This unique approach makes saving not just easier but more engaging and effective for users at all income levels.

PALM has raised a 7-fgure pre-seed round

Ahmed Ashour, co-founder of Egypt-based fintech PALM, highlighted the limited options currently available to Egyptians for managed investments due to high fees and minimum investments. PALM answers this gap by providing a modern savings experience tailored to individual lifestyles. The fintech aims to embed saving as a cultural movement in Egypt, making the process fun, personalized, hassle-free, and accessible to everyone regardless of income or assets.

The 7-figure pre-seed round will enable PALM to accelerate user acquisition, develop new product features, and strengthen its ecosystem of financial and merchant partners. The company’s broader vision is to become the go-to financial companion for Egyptians’ life milestones, helping them save smarter and achieve key goals ranging from education and healthcare to travel and electronics purchases.

Investors are optimistic about the impact PALM can have in Egypt and across Africa. Peter Orth, co-founder and managing partner at 4DX Ventures, noted that PALM has the potential to transform financial wellness by simplifying saving, offering real investment returns, and unlocking discounts on significant expenses. This aligns well with Egypt’s Vision 2030 goals of financial inclusion, resilience, and greater household participation in capital markets.

Mazen El Kerdany brings extensive experience from his previous roles at EFG Hermes and Beltone Financial, having managed assets worth nearly $2 billion. His expertise underpins PALM’s strategy to combine sound asset management with digital solutions that encourage better money habits. Ahmed’s background with Amazon and Goldman Sachs also adds valuable fintech and startup experience, equipping PALM with the tools needed to succeed in an evolving market.

Egypt-based fintech PALM has raised a 7-figure pre-seed round to revolutionize how Egyptians save money by making saving easy, rewarding, and tailored to real-life goals. This funding will fuel PALM’s growth and innovation as it builds a smarter savings culture that empowers millions across Egypt and North Africa to take control of their financial future.

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