Sylndr Raises $15.7M in Series A to Revolutionize Egypt's Mobility Landscape

Sylndr, a prominent digital used-car dealership in Egypt, has successfully secured $15.7 million in a Series A equity round, spearheaded by Development Partners International via the Nclude Fund. This financial boost aims to enhance the digitization and transparency of car buying, selling, financing, and insurance processes. Since its inception in 2022, Sylndr has made significant strides by integrating features such as operational scalability, asset-backed financing, and real-time pricing into its marketplace. The company has launched new verticals like Sylndr Swift for auto financing, Sylndr Plus for inspections and ownership diligence, and Al-Ajans to aid dealers in digitization. These initiatives are designed to transform the mobility landscape in Egypt. The new capital will be deployed to widen geographic presence, refine pricing intelligence, diversify inventory, and fortify relationships with local dealers and financial bodies. Furthermore, this investment is set to expand Sylndr's product and service offerings. Notably, Sylndr previously secured a $7.5 million asset-backed working capital facility. The company's CEO, Omar El Defrawy, emphasized the significance of this investment in scaling operations and becoming Egypt's premier mobility platform.