Sylndr raises $15.7m to fix Egypt’s used-car market with digital tools

Egyptian startup Sylndr has raised $15.7 million in Series A funding to accelerate its mission of digitising the country’s fragmented used-car sector.

The new funds will help the company expand its inventory of certified pre-owned vehicles, strengthen its technology stack, and widen access to car financing and maintenance services.

Founded in 2021 by Omar El Defrawy and Amr Mazen, Sylndr operates a fully digital platform where users can browse, buy, sell, finance, and service used cars, all from their mobile phones.

“Buying a used car in Egypt has always been a gamble,” El Defrawy said. “We’re here to make it predictable, transparent, and fair.”

A Growing Demand for Affordable Mobility

The funding round, led by U.S.-based Prosus Ventures, included backing from existing investors such as Algebra Ventures, Nuwa Capital, and Global Founders Capital. It brings Sylndr’s total capital raised to over $30 million.

In 2022, the startup made headlines after landing $12.6 million in what was then Africa’s largest-ever pre-seed round. It also secured an additional $10 million in debt financing that same year.

Sylndr’s growth is tied to a shifting consumer landscape in Egypt. Economic challenges and rising prices of new vehicles have driven more buyers to consider used cars.

“Affordability is the biggest driver,” said Amr Mazen. “Middle-income buyers are looking for trusted, digital-first solutions, and that’s our strength.”

A One-Stop Shop for Car Ownership

Sylndr offers an integrated online experience where users can select from a catalogue of certified vehicles, apply for financing, and even schedule vehicle servicing, all without stepping into a showroom.

Its model reduces the traditional headaches of Egypt’s used-car market, including inconsistent pricing, questionable vehicle histories, and the absence of reliable financing.

The startup plans to double its marketing spend to grow brand recognition and build trust across urban and suburban markets.

“We want to become Egypt’s go-to platform for everything used-car related,” said El Defrawy.

Sign of Investor Confidence in African Auto-Tech

The $15.7 million raise is also a vote of confidence in North Africa’s emerging auto-tech scene.

Egypt is home to other mobility startups like Moove and Autocheck, but Sylndr’s focus on end-to-end services positions it as a unique player in the space.

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