Cairo-based used-car marketplace Sylndr has raised $15.7 million in a Series A funding round led by Development Partners International (DPI) Venture Capital via the Nclude Fund, with participation from Algebra Ventures, Nuwa Capital, Raed Ventures, Egyptian Gulf Holding, Uncovered Fund, Beltone Venture Capital, and Camel Ventures, it announced today. The startup had raised a $12.6 million pre-seed led by Raed Ventures in 2022.
Founded in 2021 by Omar El Defrawy, Sylndr operates a technology-driven platform that allows customers to buy and sell used cars while providing financing solutions. The startup is targeting Egypt’s fragmented and largely informal used-car market through integrated operational scalability, asset-backed financing, and real-time pricing.
The funding will be used to accelerate Sylndr’s geographic expansion across all major Egyptian governorates, enhance its pricing intelligence and inventory capabilities, and strengthen partnerships with dealers, lenders, and service providers.
In 2025, Sylndr expanded beyond its core marketplace offering with three new strategic verticals: Sylndr Swift, a fully digital automotive financing solution; Sylndr Plus, a vehicle services platform offering inspections, ownership transfers, and maintenance; and Al-Ajans, a business growth program for car dealers to help them digitize operations and connect with buyers.
“We’re incredibly excited about this new chapter and deeply grateful for the support and belief our shareholders continue to place in our mission,” said Omar El Defrawy, co-founder and CEO of Sylndr. “This round allows us to scale nationally and expand our product offering as we continue building the go-to platform for mobility in Egypt.”
Ashley Lewis, Managing Partner at DPI Venture Capital, commented: “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.”
“The Sylndr team has shown sharp execution and a clear vision in transforming Egypt’s used car market,” added Laila Hassan, General Partner at Algebra Ventures. “Their expansion into financing and vehicle services reflects both ambition and a deep understanding of local market dynamics.”
The company said that its integration of commerce, fintech, and after-sales services is designed to serve both consumers and dealers in Egypt’s multi-billion-dollar used-car market.
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