Egypt’s used car industry is going digital and becoming more organized, thanks to Sylndr. This Cairo-based company just raised $15.7 million to expand beyond just selling cars online, venturing into auto loans, repairs, and tools for dealerships.

Founded in 2021 by Omar El Defrawy, Sylndr started by buying, refurbishing, and reselling used cars with guarantees. Now, it’s evolving into a full mobility platform, offering everything from digital auto loans to a marketplace for dealers.

With over 6 million cars on Egyptian roads and a ban on used car imports since 2021, prices have skyrocketed, making local used cars a goldmine. Despite the inflation, Sylndr keeps prices stable in dollars, selling cars averaging between $20,000 and $25,000.

To reduce reliance on inventory, Sylndr is branching into three verticals: Sylndr Swift (fast car financing), Sylndr Plus (inspection and servicing), and Al-Ajans (dealer-to-consumer marketplace). All these services are now accessible via a single app, making vehicle management smoother for consumers and dealers alike.

Though regional players exist, Sylndr’s strong infrastructure and integrated services give it a competitive edge. The company plans to dominate Egypt’s used car market, which it sees as the largest by volume and value in the country.

Investment in Sylndr is part of a larger trend, with other VC firms like Algebra Ventures and Nuwa Capital betting on Egypt’s promising startup scene. Sylndr’s ecosystem includes partnerships with more than 1,000 dealers, aiming to make buying, selling, and financing cars effortless and trustworthy.

So, folks, Egypt’s used car industry is transforming from a chaotic mess into a well-oiled digital machine, all thanks to innovative startups like Sylndr that are making ownership more accessible and safer!