On Tuesday, Sylndr, an Egyptian startup, announced that it has secured $15.7 million in a Series A funding round to facilitate its expansion and innovation within the automotive sector. As Sylndr became a full-stack mobility platform in Egypt, it received a large capital injection.
Expanding mobility services across Egypt
Sylndr, which was established in November 2021 by Omar El Defrawy and Amr Mazen, was initially an online marketplace for used vehicles that prioritised transparency and dependability.
The new funding will enable Sylndr to scale nationally, reaching all central governorates in Egypt and broadening its product offerings.
The company has launched three new verticals this year: Sylndr Swift, a fully digital car financing service; Sylndr Plus, which provides vehicle inspections, maintenance, and ownership transfers; and Al-Ajans, a program helping car dealers digitize and grow their businesses.
Co-founder and CEO Omar El Defrawy said, “This round allows us to scale nationally and expand our product offering as we continue building the go-to platform for mobility in Egypt.”
Sylndr’s approach integrates commerce, credit, and technology to address long-standing challenges in Egypt’s used car market, including trust issues and limited financing options.
Driving Innovation through strategic partnerships and technology
The $15.7 million Series A was led by Development Partners International (DPI) Venture Capital via the Nclude Fund, with participation from Algebra Ventures, Nuwa Capital, Raed Ventures, and others. Ashley Lewis, Managing Partner at DPI Venture Capital, highlighted Sylndr’s role in “building the digital backbone of mobility in a market where access, trust, and financing have long been barriers to ownership.”
Sylndr has secured nearly $10 million in debt financing from local banks over the past year, bringing its total capital raised to over $30 million since inception.
This financial backing supports Sylndr’s ambition to deepen partnerships with local dealers, financial institutions, and service providers to create a seamless vehicle transaction and ownership ecosystem.
Omar El Defrawy emphasized the company’s competitive edge: “Our infrastructure for inspections, refurbishments, and banking partnerships presents a significant barrier for potential competitors to replicate.” By combining digital tools with trusted services, Sylndr reshapes how Egyptians buy, sell, finance, and service used cars.
Sylndr’s rapid growth and innovative model reflect a broader trend in Egypt’s automotive and fintech sectors, where digital transformation unlocks new opportunities for consumers and businesses alike. The company’s transparent, tech-driven integrated platform simplifies a typically informal market, garnering investor confidence.