Palm, an Egyptian fintech focused on goal-based saving, has raised over $1 million in a pre-seed round led by 4DX Ventures, with participation from Plus VC and a group of international angels, it announced today. The exact size of the round was not disclosed
Founded in 2024 by Mazen El Kerdany and Ahmed Ashour, Palm offers a savings platform that helps users set and reach financial goals through curated investments and spending incentives. The product combines behavioral nudges, embedded finance, and access to asset classes like fixed income, equities, and precious metals.
The company’s core pitch is to reframe saving from a passive afterthought to an active, reward-driven habit. Users can access exclusive merchant deals that lower spending while also contributing to savings goals. Palm is positioning itself as a cultural solution as much as a financial one, citing Egypt’s estimated EGP 8 trillion in deposits and EGP 70 trillion in real estate as evidence that liquidity exists, but effective tools to manage it don’t.
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, Ashour, is a former Amazon and Goldman Sachs exec with experience across fintech and consumer startups in the U.S. and EMEA.
In a statement, the company’s CEO said, “The old formula—earn, spend, save what is left—no longer works. Today, spending smarter and saving more requires financial planning and a proactive mindset. PALM enables that by embedding investment into the spending process—making it more mindful, goal-driven, and outcome-focused.”
Ahmed Ashour, co-founder of Palm, commented, “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.”\
Peter Orth, Co-founder and Managing Partner at 4DX Ventures, said, “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, said Pam 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.”
The funding will support user acquisition, product expansion, and strategic partnerships as the Egyptian fintech works toward its Mediterranean expansion ambitions.
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