The used goods market presents significant opportunities through digitization. In Egypt, the startup Sylndr is aiming to become a leading player by focusing on technology, high-quality service, and transparency.

Sylndr is an e-commerce platform developed by an Egyptian startup. It allows users to buy, sell, finance, and service used cars through its web and mobile platforms. The Cairo-based startup was founded in 2022 by Omar El Defrawy.

It offers a mobile application available on iOS and Android, where it has already been downloaded more than 50,000 times, according to the Play Store. Users create an account with their personal information and can access Sylndr’s various services. The model it promotes aims to bring greater transparency and trust to a market that remains largely informal and fragmented. It also stands out through its quick buyback policy, six-month warranty on vehicles, and installment payment options.

On Tuesday, May 20, the startup announced a fundraising round of USD 15.7 million. “This fundraising enables us to scale nationally and expand our product offering, while continuing to build Egypt’s leading mobility platform,” said Omar El Defrawy in the statement released by the startup.

“And when we started to scale that business, it became very clear to us that the market is much bigger than that, and creating value to customers would require us to build other compelling businesses that integrate with what we’re doing,” he added.

In a context where new car prices continue to rise and consumers are looking for affordable alternatives, Sylndr is emerging as both a practical and accessible solution. The startup works with over a thousand dealerships across the country and supports its growth both online through its various channels and offline.

By Adoni Conrad Quenum,

Editing by Feriol Bewa