Cairo’s PALM Closes Seven-Figure Pre-Seed Round to Help Egyptians Save Smarter

Backed by 4DX Ventures, the startup is rethinking how Egypt plans for tomorrow—one goal at a time

Cairo’s fintech scene just got a serious boost. PALM, a savings-focused startup founded to help Egyptians meet life’s financial milestones, has secured a seven-figure pre-seed investment led by U.S.-based 4DX Ventures. The round also included Plus VC and a network of global angel investors, giving the young company fresh muscle to scale its savings revolution.

The funding comes at a time when traditional bank deposits, gold stashing, and real estate continue to dominate Egyptian household wealth. But PALM’s pitch? Saving can be smarter—and even rewarding.

Changing the psychology of savings in Egypt

PALM isn’t just building an app. It’s challenging a mindset.

Most Egyptians are savers by nature. But where they park that money? That’s where PALM sees a broken pattern. “Egyptians hold over EGP 70 trillion in real estate and EGP 8 trillion in bank deposits,” said Mazen El-Kerdany, PALM’s Co-Founder and CEO. “It’s not about willingness. It’s about tools that align with real needs.”

And those needs are evolving fast.

A younger generation entering the workforce wants flexibility, digital access, and purpose-driven finance. PALM taps into that by combining traditional financial instruments with behavioral nudges. You don’t just save—you get rewarded for sticking to your goals.

It’s part psychology, part tech. And a lot of timing.

What makes PALM different

So what’s under the hood? PALM’s interface is clean and simple, but what it offers runs deeper. It’s not just about setting aside money—it’s about why and how.

The platform allows users to define specific goals, whether it’s funding a wedding, affording healthcare, or finally taking that trip to Istanbul. Then it backs that intent with:

• Personalized goal-based savings plans

• Behavioral nudges to encourage consistency

• Incentives for achieving milestones

• Smart, low-friction investment options

There’s no one-size-fits-all. “We’re here to support how you want to save,” El-Kerdany noted. “We want to be your financial partner for every milestone—big or small.”

Investors are paying attention

This isn’t just about one startup’s ambitions. It signals something bigger about fintech appetite in Egypt.

4DX Ventures, the lead investor, has built a reputation for identifying African tech with global potential. They’ve backed companies like Flutterwave and Wasoko. Betting on PALM fits the pattern: fintech with a clear user problem, proven demand, and high potential to scale.

Plus VC, a Gulf-based early-stage fund known for consumer-focused plays, joined the round. So did angel investors from across Europe and the Middle East. While the exact valuation wasn’t disclosed, sources familiar with the deal say the startup crossed the million-dollar mark in commitments comfortably.

That’s a serious vote of confidence at the pre-seed stage.

Big goals, bigger timing

This capital injection is more than just money in the bank. PALM says it’s using the funds for three key moves:

1. User Acquisition – Expanding reach across Cairo and Alexandria, especially among Gen Z and young professionals.

2. Product Development – Enhancing features that encourage saving consistency and integrating more localized investment tools.

3. Strategic Partnerships – Growing its network of partners, from banks and NBFCs to consumer brands tied to common life milestones.

Here’s how PALM frames its roadmap:

There’s also regional ambition at play. The startup isn’t stopping at Egypt. Long-term, it wants to serve the broader Mediterranean—countries where savings culture exists but digitization lags.

Fintech heating up across the Nile

PALM’s rise isn’t happening in isolation. Egypt’s broader fintech sector has seen a quiet but steady boom over the past two years. In 2024 alone, the country saw more than $200 million in fintech investments—up 45% from the year before, according to data from Magnitt.

Government backing also helps. The Central Bank of Egypt has been pushing for financial inclusion, especially among women and rural communities. Digitized savings solutions like PALM fit that mission perfectly.

Other players in the space—like Dayra and Khazna—have focused on credit or payments. PALM stands out by zoning in on savings, a space that’s been overlooked despite huge deposit volumes.

One investor put it bluntly: “Everyone’s solving for spend. PALM is solving for patience.”

Why this matters now

Let’s be real—Egyptians are dealing with a tough economic backdrop. Inflation, currency pressures, and job uncertainty are eating into confidence. People want to save. But how?

That’s the gap PALM is aiming to fill. And in doing so, it’s not just pitching a fintech product. It’s selling something deeper: hope with structure.

For many, it’s not about beating the market. It’s about buying a fridge. Or sending their kid to school. Or having enough for a rainy day without having to pawn their gold bracelet.