Egypt’s Sylndr Secures USD 7.46 M Capital Facility

Egypt-based Sylndr, an online marketplace for used cars, has secured a USD 7.46 M capital facility to enhance its business operations. Founded in 2021 by Amr Mazen and Omar El Defrawy, Sylndr offers a platform where customers can buy, sell, and finance used cars.

The newly raised capital will be used to improve customer experience, diversify inventory options, and broaden financing solutions, strengthening Sylndr’s foothold in the Egyptian market.

In 2022, Sylndr raised a USD 12.6 M pre-seed round, led by RAED Ventures, with participation from Algebra Ventures, Nuwa Capital, and others. This earlier funding facilitated the startup’s initial market entry and operational expansion.

Sylndr’s approach aims to simplify the used car buying and selling process while offering accessible financing options, positioning it as a key player in Egypt’s growing automotive e-commerce sector.