PALM, Egypt’s first incentivized goal-based investment platform, has officially launched following the completion of its pre-seed funding round led by 4DX Ventures, with participation from Plus VC and a group of global angel investors.
The company also announced obtaining its Portfolio Management License from the Financial Regulatory Authority (FRA), enabling it to directly manage investments for retail users.
This milestone marks a significant step towards PALM’s mission to deliver a smart, personalized, and flexible solution that helps individuals save, grow, and access their money with unprecedented ease, through the PALM app now available across all app stores.
All PALM’s products provide daily competitive yields with zero deposit, withdrawal, or transaction fees. The platform also offers merchant-linked saving plans for travel, healthcare, consumer electronics, household appliances, education, marriage, buying a car, or a new house. In addition, users can save in professionally managed investment portfolios in EGP or USD.
Mazen El Kerdany, Co-Founder and CEO of PALM, said:
“For the first time, Egyptians can experience a seamless, goal-based savings journey with institutional-quality portfolio management designed to grow their wealth and improve financial well-being. Obtaining the FRA license is not just a regulatory milestone—it’s a validation of our mission to democratize access to professional investment management.”
Ahmed Ashour, Co-Founder and Chief Business Officer of PALM, added:
“Egyptians are faced with a tough reality when it comes to saving their money. Either they spend time and money learning how to invest on their own, or they watch their savings lose value sitting idle. At PALM, we saw a huge opportunity to change that—making investing easy, smart, and personal, and giving everyday Egyptians access to services once reserved for the wealthy.”
The launch of PALM in Egypt represents a bold step toward reshaping the future of personal financial services in the region, positioning the company as the ultimate financial partner for individuals seeking to manage their savings, optimize their spending, and improve their quality of life.