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Sylndr, with fresh $15.7M, allows users to buy, sell, finance, and service used cars in Egypt
Cairo-based Sylndr has raised $15.7 million as it expands beyond online used car sales into auto financing, servicing, and tools for dealers. The round
While other regional players such as Contactcars, OLX and Nigeria-based Autochek, which made inroads into Egypt with AutoTager in 2023, have similar offerings, El Defrawy says he doesn’t see them as close competition in terms of providing an end-to-end solution for buyers and dealers across the value chain. Their integrated model brings together commerce, credit, and technology to fundamentally improve how Egyptians buy and sell cars,” said Ashley Lewis, Managing Partner at DPI Venture Capital. This marks the third deal announced by the recently launched London-based VC firm in the past month, following investments in Egypt’s digital savings and credit platform MoneyFellows and proptech startup Nawy.
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