Revolutionizing savings in Egypt with a substantial pre-seed investment: PALM's strategy for goal-focused savings takes a significant stride forward
Egyptian fintech startup PALM is set to transform the way Egyptians save and manage their finances, offering a goal-based, incentivized savings platform that blends personalized investment strategies and behavioral rewards to encourage disciplined, long-term saving habits.
Founded in 2024 by Mazen El Kerdany and Ahmed Ashour, PALM leverages behavioral technology and embedded finance to provide a modern, personalized saving experience that suits diverse income levels and lifestyle needs. The startup recently raised a seven-figure pre-seed funding round led by 4DX Ventures with participation from Plus VC and international angel investors.
The core idea behind PALM is that saving should be both disciplined and rewarding. Users can define clear life goals, such as education, medical needs, travel, or major purchases, and the platform will match them with tailored investment strategies. These strategies encompass a diversified approach, allocating assets across fixed income, equities, and precious metals, combined with exclusive merchant offers to make saving rewarding and help users reach their milestones faster.
PALM's founder, Mazen El Kerdany, brings a wealth of experience to the table, having overseen multi-billion-dollar investments at EFG Hermes and Beltone. Ahmed Ashour, on the other hand, brings global experience from Amazon and Goldman Sachs.
The newly raised capital will support PALM in expanding its user base, accelerating product innovation, and strengthening strategic partnerships with merchants and financial partners. PALM's emphasis on goal-based saving may resonate in a market where financial planning remains largely informal and reactive.
PALM's approach aligns with Egypt's Vision 2030 objectives, promoting financial inclusion and encouraging greater household involvement in capital markets. The platform's focus on making savings smarter, personalized, and rewarding is in line with the broader trend of fintechs in North Africa moving beyond simple digitization to actively guide users towards better financial planning and improved outcomes.
As PALM moves forward, the real challenge lies in scaling and proving whether it can evolve into a trusted platform for navigating life's key financial decisions. The startup aims to reach millions across the Mediterranean region and become the go-to financial partner for life’s milestones, empowering users to plan, save, and grow their wealth with confidence.
In summary, PALM's goals, features, and expansion strategies revolve around providing Egyptians with innovative, incentivized, goal-based savings solutions that promote financial inclusion by making saving smarter, personalized, and rewarding. The app provides access to special deals from partner merchants, seeks to generate real returns via diversified investments and cut excess spending through built-in perks, and aims to roll out new features tailored to Egypt's distinct savings habits.
- PALM's unique approach combines personalized investment strategies, behavioral rewards, and technological advancements to facilitate financial inclusion and revolutionize personal-finance management, offering an innovative method for saving and investing in Egypt.
- By leveraging embedded finance, behavioral technology, and diversified investments, PALM strives to expand its user base across the Mediterranean region, empowering millions to make smarter savings decisions, engage in long-term investing, and achieve their financial milestones.
