Looking to buy or sell used cars in Egypt? Sylndr is rapidly becoming the go-to platform for used car sales, auto financing, and car servicing in the region. With the used car market in Egypt booming due to currency fluctuations and a government ban on used car imports, Sylndr’s latest $15.7 million funding round comes at the perfect time. The Cairo-based startup is revolutionizing the way Egyptians access affordable and reliable vehicles, offering a fully digital experience that includes buying, selling, financing, and even servicing used cars — all under one platform.
This funding round, led by Development Partners International’s Nclude Fund, highlights investor confidence in Sylndr’s vision. It combines newly announced equity with seed funding and adds to a total of over $30 million raised to date, including nearly $10 million in local debt financing. Since its record-breaking $12.6 million pre-seed round in 2022 — the largest in Africa at the time — Sylndr has continuously expanded its offerings to meet the evolving demands of Egypt’s auto market.
Founded in 2021 by Omar El Defrawy, a former executive at Elmenus, Sylndr initially focused on buying used vehicles directly from consumers, refurbishing them, and reselling with warranties and money-back guarantees. This model addressed critical trust issues in the used car space and quickly gained traction.
But Sylndr didn’t stop there. Recognizing the market's untapped potential, the company has since evolved into a comprehensive mobility platform, providing digital auto loans, car servicing, and a marketplace for third-party car dealers. These new services aim to make car ownership more accessible and affordable in a country where inflation and currency devaluation have made new cars less attainable.
“There’s a massive opportunity beyond just used car sales,” said CEO Omar El Defrawy. “Our goal is to create integrated solutions that not only help consumers but also empower dealerships and service providers across Egypt.”
With over 6 million vehicles already on Egypt’s roads and a ban on used car imports driving demand for local inventory, Sylndr is well-positioned to lead the next wave of automotive digitization in North Africa. Its innovative approach appeals to both cost-conscious consumers and the growing number of people looking for financing options amid rising interest rates and economic uncertainty.
Sylndr's unique blend of auto financing, car servicing, vehicle warranties, and dealer support tools positions it as more than just a marketplace — it’s a full-stack automotive ecosystem. As Egypt’s first true used car super app, Sylndr is setting new standards in convenience, trust, and financial accessibility.
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