Egypt's Sylndr Secures $15.7 Million to Compete in the Secondhand Vehicle Sector
In the heart of Cairo, a startup named Sylndr is transforming the region's mobility landscape. Since its launch in 2022, Sylndr has evolved into a full-stack mobility platform, handling financing, inspections, and dealer services.
The startup operates in Egypt's massive yet chaotic used-car market, traditionally plagued by paper contracts, cash deals, and unverified listings. Sylndr aims to address these issues by focusing on trust, technology, and financing.
Sylndr has recently secured $15.7 million in a Series A funding round co-led by DPI’s Nclude Fund and Partech, bringing its total funding to over $30 million. This fresh capital will be used to further enhance Sylndr’s platform and support its expansion in Egypt’s used car market.
The company is backed by top regional investors including Algebra Ventures, Nuwa Capital, and Raed Ventures. Sylndr's offerings include the digital car loan platform, Sylndr Swift, and Sylndr Plus, which offers services like inspections, maintenance, and ownership transfers.
In addition, Sylndr has launched three new business verticals, including Al-Ajans, a toolkit to help local car dealers digitize and scale. Ashley Lewis, Managing Partner at DPI, commented that Sylndr is building the digital backbone of mobility, while Omar El Defrawy, Sylndr's co-founder and CEO, stated that the new funding will enable the company to scale nationally and expand its product offering.
Sylndr's mission is to build trust in Egypt’s traditionally opaque used-car market by offering an extensive range of high-quality vehicles and accessible financing solutions. The startup is noted for introducing innovation and transparency, helping customers reliably transact cars in a market often challenged by trust and fraud issues.
Looking ahead, Sylndr plans to digitalize its platform further and broaden its services to capture more of the market. The company focuses on providing an end-to-end automotive commerce experience, from buying and selling to financing and servicing, all embedded within a single platform. This comprehensive offering is designed to create a seamless user experience and address multiple pain points in the used-car ecosystem.
In summary, Sylndr is well-capitalized, with a clear strategy to scale its presence and digitize Egypt’s used-car market through innovative technology, financing options, and transparent processes, aiming to become the leading used-car marketplace in Egypt.
[1] Waya Media. (2025, July). Sylndr raises $15.7 million to digitize Egypt’s used-car market. Retrieved from https://wayamedia.com/sylndr-raises-15-7-million-to-digitize-egypts-used-car-market/ [2] Waya Media. (2022, March). Sylndr launches to reshape mobility in Egypt. Retrieved from https://wayamedia.com/sylndr-launches-to-reshape-mobility-in-egypt/ [3] Waya Media. (2021, December). Sylndr secures $14.5 million in seed funding. Retrieved from https://wayamedia.com/sylndr-secures-14-5-million-in-seed-funding/ [4] Waya Media. (2023, June). Sylndr introduces Sylndr Swift and Sylndr Plus to its product offering. Retrieved from https://wayamedia.com/sylndr-introduces-sylndr-swift-and-sylndr-plus-to-its-product-offering/
- Sylndr, a well-funded startup operating in Egypt's used-car market, is leveraging technology and finance to address traditional issues of trust, streamline transactions, and transform the market.
- To further strengthen its position, Sylndr is scaling its operations by expanding product offerings and implementing technological advancements, all while focusing on the business vertical of digitizing and scaling car dealerships in the region.
