Cairo - Mubasher: PALM, Egypt’s first incentivized goal-based investment platform, has officially launched, according to a press release.
The launch followed a pre-seed round led by 4DX Ventures, with Plus VC and global angel investors also participating.
PALM secured its portfolio management license from the Financial Regulatory Authority (FRA), allowing it to manage investments for retail users directly.
Users can choose locked or flexible plans, Sharia-compliant products, and access an exclusive merchant network for discounts and rewards.
Funds are invested in regulated products like gold, treasury bills, bonds, and Egyptian equities. All customer funds are securely held in Egyptian banks.
Mazen El-Kerdany, PALM’s 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,” he added.
Ahmed Ashour, Co-Founder and Chief Business Officer of PALM, highlighted: “Egyptians are faced with a tough reality when it comes to saving their money.”
“At PALM, we saw a huge opportunity to change that. We’re making investing easy, smart, and personal, giving everyday Egyptians access to professionally managed financial services that used to be reserved for the super-rich or top earners,” Ashour mentioned.
The launch of PALM in Egypt marks a huge step in reshaping personal financial services, offering a faster, smarter savings experience for individuals to manage their money and improve their financial well-being.
