PALM, Egypt’s first incentivized goal-based investment platform, has officially launched after obtaining its Portfolio Management License from the Financial Regulatory Authority (FRA).
The FRA license will enable the firm to directly manage investments for retail users and as well enable them to save, grow, and access their money at daily competitive yields along with zero deposit, withdrawal, and transaction fees.
According to Mazen El Kerdany, PALM’s Co-Founder and CEO, “Obtaining the FRA license is not just a regulatory milestone—it’s a validation of our mission to democratize access to professional investment management. With one app, users can plan their life goals, grow their money, and spend smarter through our merchant partners.”
PALM recently closed pre-seed funding round recently led by 4DX Ventures, with participation from Plus VC and a group of global angel investors.
PALM offers merchant-linked saving plans for travel, healthcare, consumer electronics, and appliances, the application also provide saving plans for education, marriage, buying a car or a new house. In addition to the everyday goals, users can save in professionally managed investment portfolios in Egyptian Pounds or U.S. Dollars.
The PALM allows users to choose how they prefer to save, manage multiple goals with different return levels at once. Users can choose to save in locked or unlocked plans, save in Sharia’ compliant financial products only, use their invested amount at any merchant within PALM’s exclusive network, and decide if they want to have a flexible or instalment-like saving plan.
PALM account creation only takes minutes, once registered, the user can create their goals, adding funds to each goal is easily done through InstaPay or bank transfers, and tracking progress as funds get invested motivates users to achieve their goals. Users can track their savings daily, see their investment gains and additional merchant benefits, and get ongoing behavioural support to reach their goal. Whenever they like, users can opt for using their investments at any partner merchant or withdraw their funds to their bank account and move to their next goal.
PALM invests user funds across high quality, secured, and regulated investment products across different asset classes including gold, fixed income products like treasury bills and bonds, and Egyptian companies’ shares traded through the Egyptian Stock Market. All customer funds are securely custodied in Egyptian banks and all investments are done in regulated financial instruments and products to ensure customer funds security.
“Egyptians are faced with a tough reality when it comes to saving their money,” said Ahmed Ashour, Co-founder and Chief Business Officer of PALM. “You either spend time and money trying to learn how to invest on your own—or watch your savings lose value sitting idle, earning nothing. That’s the choice most people face, and it’s just not good enough.”
“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. Because for most people, it’s not just about being rich—it’s about being able to afford the life they want and work hard to realize.”
The launch of PALM in Egypt marks a bold step toward reshaping the future of personal financial services in the region. By delivering a faster, more innovative, and more effective savings experience, PALM is committed to being the ultimate financial partner for individuals seeking to manage their savings, optimize their spending, and live a better life on their terms.