Cairo-based Sylndr has successfully raised $15.7 million to broaden its services from solely online used car sales to also include auto financing and servicing. This round was spearheaded by Development Partners International's Nclude Fund, with previous investors Algebra Ventures and Nclude participating. The company was founded in 2021 and has since pivoted to become a comprehensive mobility platform, addressing the supply-demand gap in Egypt's used car market, which is driven by currency devaluation and import restrictions. Sylndr aims to offer value through an integrated set of services for consumers and dealers alike.
When we started the business, we were primarily focused on a consumer problem related to buying and selling cars, and it became very clear to us that the market is much bigger than that.
Sylndr has raised $15.7 million as it expands beyond online used car sales into auto financing, servicing, and tools for dealers.
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