PALM, an Egyptian fintech startup, has raised a 7-figure pre-seed funding round with participation from 4DX Ventures, Plus VC, and several international angel investors. The exact size of the round was not disclosed. Founded in 2024 by Mazen El Kerdany and Ahmed Ashour, PALM offers a platform that enables users to save for life goals through smart nudges, embedded finance, and curated investments across fixed income, equities, and precious metals.
The platform also provides exclusive merchant deals to boost savings value and reduce spending. El Kerdany stated, “We’re incredibly grateful to our investors for their trust and belief in PALM’s vision.
4DX Ventures backs Egyptian fintech PALM
Their support empowers us to accelerate our mission of transforming how Egyptians save and achieve their life goals.”
Ashour added, “Currently, Egyptians have limited options for managed investments due to high fees and minimum investment requirements. We are changing how Egyptians save by offering a modern saving experience that is aligned with their interests and financial journeys, regardless of their income levels or assets.”
The funding will be used to support product expansion, user growth, and the company’s long-term mission of becoming the Mediterranean’s go-to savings partner. PALM integrates traditional investment tools with modern behavioural nudges, rewarding users for their consistency and progress.
Peter Orth, Co-founder and Managing Partner at 4DX Ventures, praised PALM’s potential, stating, “We believe PALM has the potential to transform financial wellness across the continent. By making it easier to save, delivering real returns, and unlocking meaningful discounts on major expenses, PALM helps users build lasting wealth.”
Hasan Haider, Managing Partner at Plus VC, added that PALM is “addressing a critical gap in personal finance” and has “the vision, execution, and product insight to become a trusted financial companion for the next generation.”
By focusing on user acquisition, expanding product use cases, and strengthening strategic partnerships, PALM aims to make saving easier, culturally relevant, and rewarding for Egyptians. This next phase will also support product innovation and deeper market engagement as the company works toward reaching millions across the Mediterranean.