Tuesday, September 9, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Funding

Sylndr, an Egyptian Online Car Retailer, has secured US $15.7 million in a Series A equity funding round

Tech Gist Africa by Tech Gist Africa
06/15/2025
in Funding, Middle East and Africa, News - Middle East And North Africa
0 0
0
Sylndr Egypt

Sylndr Egypt

0
SHARES
Share on FacebookShare on Twitter

Sylndr, Egypt’s leading online used-car platform, has secured US $15.7 million in a Series A equity funding round, led by Development Partners International’s (DPI) Nclude Fund, with participation from Algebra Ventures, Nuwa Capital, Raed Ventures, Uncovered Fund, Beltone Venture Capital, Camel Ventures, and Egyptian Gulf Holding.

Founded in late 2021 by Omar El Defrawy and Amr Mazen, Sylndr began by buying, refurbishing, and selling used cars with warranties and money-back guarantees. Over time, the startup expanded beyond transactions to add three integrated verticals, creating a one-stop mobility platform: Sylndr Swift: A fully digital car financing solution providing loan approvals in under 10 minutes, connecting buyers with banks without Sylndr lending directly;  Sylndr Plus: Vehicle inspection, maintenance, and servicing services bundled into car purchases; Al‑Ajans: A dealer portal enabling third-party dealers to list inventory while Sylndr handles inspection, payments, and title transfers.

These services are unified in a single mobile app, offering transparent pricing, digital financing tools, and after-sales support.

This Series A brings Sylndr’s total investment to over US $30 million, combining the $15.7 million round with prior seed funding ($12.6 million in 2022) and nearly $10 million in debt from Egyptian banks. 

Since launching, Sylndr’s sales have grown nearly tenfold. Its revenue in Egyptian pounds increased 22×, and 5× in U.S. dollar terms, with average sale prices holding steady at $20,000–$25,000 despite currency volatility.

Sylndr plans to deploy its new capital to: Scale nationally, expanding operations to all major governorates across Egypt, Enhance technology, including pricing intelligence, inventory management, and fintech capabilities, and  Deepen partnerships with dealers, financial institutions, and service firms to bolster its integrated ecosystem. 

Ashley Lewis, Managing Partner at DPI Venture Capital, remarked:

“Sylndr is building the digital backbone of mobility in a market where access, trust, and financing have long been barriers to ownership. Their integrated model brings together commerce, credit, and technology to fundamentally improve how Egyptians buy and sell cars”. 

Laila Hassan from Algebra Ventures echoed the sentiment, praising Sylndr’s deep market understanding and infrastructure that supports financing and services. 

Sylndr’s US $15.7 million Series A round positions it as the digital backbone of Egypt’s mobility market. With integrated financing, inspection, servicing, and dealer tools, it’s accelerating nationwide rollout and tech innovation—steering the used-car sector into a more transparent, accessible, and tech-driven future.

 

Read more on Tech Gist Africa: 

i’SUPPLY, an Egyptian B2B medtech platform has secured a US $3 million funding

MoneyFellows, an Egyptian Fintech Secures 13 million pre-Series C funding round

Egyptian Q-Commerce Startup Rabbit Secures Funding to Expand into Saudi Arabia

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

REdimension Capital South Africa
Funding

REdimension Capital Secures $13.8 Million to Transform South Africa’s Proptech Landscape

by Tech Gist Africa
09/04/2025
0

Johannesburg-based REdimension Capital has announced the final close of its Real Estate Technology & Sustainability Fund I, securing a total...

Read more
Finnfund Poa Internet Kenya

Finnfund Invests $4M in Poa Internet to Expand Affordable Broadband in Kenya

09/04/2025
Holo Fintech UAE

Holo Secures $22M Series A to Revolutionize Homeownership in UAE and Saudi Arabia

09/03/2025
ITIDA Egypt

Egypt’s Start IT Programme Welcomes Eight Innovative Startups in 47th Cohort

09/01/2025
Dubai AI Accelerator

Dubai’s AI Accelerator has opened Registration for the “Future of AI in Government Services Accelerator” Program

09/01/2025
Next Post
MaxAB-Wasoko Fatura Egypt

African E‑Commerce Super‑App MaxAB‑Wasoko Acquires Egypt’s Fatura

Thndr Egypt

Thndr, an Egyptian-based digital investment platform, has raised US $15.7 million in a Series A round

ElGameya Egypt

ElGameya, an Egyptian Fintech Startup Raises 7‑Figure Funding

No Result
View All Result

The Big 5

ITIDA Egypt

Egypt’s Start IT Programme Welcomes Eight Innovative Startups in 47th Cohort

by Tech Gist Africa
09/01/2025
0

...

startup africa

Innovate47 Launches Food & Agri Accelerator to Empower African Startups

by Tech Gist Africa
09/01/2025
0

...

Dubai AI Accelerator

Dubai’s AI Accelerator has opened Registration for the “Future of AI in Government Services Accelerator” Program

by Tech Gist Africa
09/01/2025
0

...

Presight AI-Startup Accelerator

Presight AI-Startup Accelerator Ignites Global Innovation in Abu Dhabi

by Tech Gist Africa
09/01/2025
0

...

African tech ecosystem

Africa’s Growing Role in Global Tech Partnerships: Collaboration with Silicon Valley and Beyond

by Tech Gist Africa
08/25/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.