Egypt’s incentivised goal-based investment platform, PALM, has officially launched following the closure of its pre-seed funding round led by 4DX Ventures, with participation from Plus VC and a group of international angel investors.
The company has obtained a Portfolio Management License from the Financial Regulatory Authority (FRA), allowing it to directly manage investments for retail clients.
This milestone supports PALM’s strategy to offer individuals a solution for saving, growing, and accessing their funds with flexibility and personalisation through the PALM application, now available on major app stores.
PALM’s products provide daily competitive yields with no deposit, withdrawal, or transaction fees.
Users can set up saving plans linked to travel, healthcare, electronics, education, marriage, vehicles, or property.
In addition, they can invest in professionally managed portfolios denominated in Egyptian Pounds or US Dollars.
The application allows users to manage multiple goals with different return levels, choose between locked or unlocked plans, select Sharia-compliant products, and opt for flexible or instalment-style savings.
Funds can be used with PALM’s merchant network or withdrawn at any time.
“Egyptians can now experience a seamless, goal-based savings journey with institutional-quality portfolio management designed to grow their wealth and improve financial well-being,”
said Mazen El Kerdany, Co-Founder and CEO of PALM.
“Obtaining the FRA license is not just a regulatory milestone, it validates our mission to democratise access to professional investment management.”
El Kerdany added:
“With one app, users can plan their life goals, grow their money, and spend smarter through our merchant partners. Our mission focuses on improving individual financial well-being while channeling retail funds into productive assets, supporting market participation and sustainable economic growth.”
PALM invests client funds in regulated financial instruments across asset classes including gold, fixed-income products such as treasury bills and bonds, and Egyptian equities.
All funds are securely held in Egyptian banks, with investments structured to ensure client security.
The launch of PALM represents a step towards transforming personal financial services in Egypt, providing a faster and more accessible way for individuals to manage savings, optimise spending, and achieve financial goals.
Featured image credit: PALM
