Sylndr Raises $15.7M Series A to Revolutionise Egypt’s Used-Car Market

Sometimes buying a used car in Egypt feels like a leap into the unknown—it can easily become a dodgy game with hidden traps around every corner. Most folks who've tried it will recognise that sinking feeling: endless hours spent inspecting shady dealerships, haggling over questionable pricing, and those nagging doubts about reliability. Well, a Cairo-based startup called Sylndr has been making moves to transform that often frustrating experience into something refreshingly straightforward and, dare I say it, even pleasent.

This week, Sylndr announced they had successfully bagged $15.7 million in Series A funding, an impressive round led by Development Partners International (DPI) Venture Capital through the Nclude Fund. Joining the party were well-known regional investors like Algebra Ventures, Nuwa Capital, Raed Ventures, Egyptian Gulf Holding, Uncovered Fund, Beltone Venture Capital, and Camel Ventures, highlighting some serious confidence from the investment community.

Founded back in 2022, Sylndr set out with a mission to shake-up the country's notoriously fragmented used-car market through an innovative digital platform. They've developed a range of services that tackle real headaches: from making buying and selling cars smoother and safer, to speeding-up finance approvals and offering trustworthy inspections. Naturally, this has attracted buyers and dealers alike who appreciate the straight-shooting transparency Sylndr brings into the picture.

Reflecting on the news, Sylndr CEO and Co-founder Omar El Defrawy didn't hide his enthusiasm: "We're incredibly excited about this new chapter and deeply grateful for the support and belief our shareholders continue to place in our mission," he said. "This round allows us to scale nationally and expand our product offering as we continue building the go-to platform for mobility in Egypt."

And Sylndr hasn't exactly been sitting idle. This year alone they've rolled out three clear-cut services to make life easier for Egyptian drivers and dealers. There's Sylndr Swift, a speedy all-digital financing service helping customers get loans approved without the usual hassle; Sylndr Plus, aimed at drivers wanting peace of mind through professional vehicle inspections and reliable maintenance options; and Al-Ajans, a specially tailored digital toolkit to help car dealers expand, manage inventories, and boost their sales networks.

With this fresh injection of cash, Sylndr's next step is clear. They plan to swiftly ramp up their expansion across Egypt, aiming to their platform and convenient services accessible throughout major governorates. They'll also continue innovating cool digital solutions, sharpen their pricing intelligence further, and forge stronger partnerships with local dealers, financial institutions, and auto service providers.

Investors clearly believe the team has what it takes. Ashley Lewis of DPI Venture Capital put it simply: "Sylndr is building the digital backbone of mobility in a market where access, trust, and financing have long been barriers to ownership." Algebra Ventures' General Partner, Laila Hassan, echoed these sentiments, applauding Sylndr's "ambition and a deep understanding of local market dynamics."

As regular Arageek readers know, successful startups typically combine market savvy with something a little special—and it looks like Sylndr has indeed captured that mix. Let’s hope they keep smoothing Egypt's bumpy ride when it comes to car buying. After all, few things are as reassuring as knowing your next vehicle purchase isn't leaving you stranded on the side of the road.

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