• Sylndr raised $15.7M to expand its digital used car platform, now offering financing, servicing, and dealer tools.
  • The company’s integrated app serves both consumers and dealers, with over 1,000 partners nationwide.
  • Sylndr’s new verticals are expected to drive 60% of gross profit as it deepens its presence in Egypt’s $10B market.

Egypt’s leading used car platform, Sylndr, has secured $15.7 million in fresh funding led by Development Partners International’s Nclude Fund, with participation from Algebra Ventures and Nclude.

The round, including both new equity and previously unannounced seed capital, brings Sylndr’s total funding to over $30 million since its 2021 launch.

Founded by Omar El Defrawy and Amr Mazen, Sylndr began as a direct-to-consumer platform, buying, refurbishing, and reselling used cars with warranties and money-back guarantees.

As Egypt’s market faces rising demand for used vehicles, currency devaluation, and a ban on used car imports, Sylndr has evolved into a comprehensive mobility platform.

It now offers digital auto loans (Sylndr Swift), car servicing and inspections (Sylndr Plus), and a dealer marketplace (Al-Ajans), all integrated into a single app.

Egypt’s used car market, valued at $10 billion, remains fragmented and risky for buyers, with informal dealerships dominating. Sylndr aims to formalise the sector with standardised inspections, digital financing, and secure ownership transfers.

The company’s average sale price ranges from $20,000 to $25,000, and sales have grown tenfold since 2022, with revenue up 22 times in local currency and fivefold in dollar terms.

Sylndr now works with over 1,000 dealers nationwide, serving both consumers and businesses through online and offline channels.

The company expects its new financing and servicing verticals to contribute up to 60% of gross profit within two years.

Unlike many Egyptian startups, Sylndr is focused on deepening its presence at home, where it claims to be the largest used car trading company by volume and value.

Edited by Annette George