Sylndr Raises $15.7M for Automotive Expansion

This is a Egypt news story, published by TechCrunch, that relates primarily to Sylndr news.

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Sylndr, with fresh $15.7M, allows users to buy, sell, finance, and service used cars in Egypt | TechCrunch

Summary

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80% Informative

Cairo -based Sylndr has raised $15.7 million as it expands into auto financing, servicing, and tools for dealers.

The company operates in Egypt ’s fast-growing but under-digitized vehicle market.

Egypt has over 6 million cars on the road with demand for used cars growing amid currency devaluation and rising prices for new imports.

Sylndr currently works with more than 1,000 dealers nationwide and serves both buyers and sellers through its online and offline channels.

This marks the third deal announced by the recently launched London -based VC firm DPI Venture Capital in the past month , following investments in Egypt ’s digital savings and credit platform MoneyFellows and proptech startup Nawy .

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Neutral language

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semi-formal

Language

English

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not offensive

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not hateful