Sylndr, one of Egypt’s leading used car trading platforms, has secured a €7.4 million investment to enhance its presence in the region. EFG Hermes acted as the sole financial advisor for this funding round.
With this investment, Sylndr will be able to improve customer experiences and expand its vehicle inventory. The funding marks a significant step forward, not only for the company but also for the broader Egyptian startup ecosystem.
A consortium of financial institutions, including EFG Corp-Solutions, NXT Commercial Bank, EG Bank, and other investors, will provide this financial support.
Thanks to this investment, Sylndr will be able to expand more comfortably. The growing used car market in Egypt will also benefit from this boost, as demand for affordable vehicles continues to rise in the country.
Platforms like Sylndr are gaining a strong foothold in the industry by making sales processes more convenient and transparent, offering alternatives to traditional car dealerships. The digitalization of this sector is also accelerating in Egypt, with increasing growth every day.