Egypt's used car retail startup Sylndr raises $12.6 million

Oluwajuwonlo Afolabi -

Sylndr, an Egypt-based retailer of used cars has raised $12.6 million in its pre-seed funding round led by RAED Ventures.

  • The startup plans to build trust between car buyers and sellers by creating a reliable platform for such transactions.
  • Sylndr is a Cairo-based automotive platform enabling customers to buy and sell used cars.
  • VC firms, Algebra Ventures, Nuwa Capital, 1984 Ventures, Global Founders Capital and angel investors participated in the funding round.