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.
