Sylndr, a Cairo-based automotive technology startup focused on Egypt’s used car market, has announced a successful raise of $15.7 million in new funding. This capital injection marks a significant milestone for the company as it transitions from being solely an online used car retailer to becoming a more comprehensive auto services platform.
The funding round, which attracted participation from regional and global investors, is aimed at supporting Sylndr’s ambitious expansion plans. In addition to operating an e-commerce platform for buying and selling pre-owned vehicles, Sylndr now plans to offer a more integrated ecosystem of auto-related services. These include consumer auto financing, vehicle servicing and maintenance, and digital tools designed to assist car dealers.
The company, which was launched to bring digital transparency and customer trust to Egypt’s traditionally informal used car market, has been growing rapidly. Sylndr enables users to browse verified listings, secure financing, and have their car delivered, streamlining what has historically been a fragmented and opaque process.
Co-founder and CEO Omar El Defrawy expressed that the new funding round positions the company to tackle several inefficiencies in the automotive industry. “Our goal is to build the most trusted used car platform in the region and be a driving force for formalization in this important sector. By adding new services for financing and repairs, we can better serve customers and support our dealer network,” he said.
The demand for reliable, affordable cars in Egypt has risen due to economic pressures and global supply chain disruptions affecting the availability of new vehicles. This has positioned Sylndr to tap into a growing market of value-conscious consumers seeking dependable cars with verified histories and post-sale support.
Sylndr’s plans to develop a suite of back-end software tools for dealers aim to improve operational efficiency and expand their reach. These services are expected to set the company apart in a still-nascent digital auto sales industry in North Africa.
The company plans to use the new funding to expand its geographic footprint, invest in technology development, and scale its operations across multiple verticals within the automotive ecosystem.
Founded in 2021, Sylndr is part of a growing wave of African startups addressing real-world infrastructure and commerce challenges by digitizing traditional industries. The recent capital round underscores growing investor confidence in Egypt’s tech ecosystem and the potential for regional startups to innovate in large, underserved markets.
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