TechCrunch Startup News Sylndr, with fresh $15.7M, allows users to buy, sell, finance, and service used cars in Egypt
May 22, 2025
Cairo's Sylndr just secured $15.7 million to revolutionize the used car market in Egypt. Not only is it boosting online sales, but it's also diving into auto financing and tools for dealers. This move aims to tackle economic challenges while providing a comprehensive service for buyers and sellers alike. It's a bold step that could reshape the landscape of vehicle transactions in the region.
AI Snips
Chapters
Transcript
Episode notes
Cylinder's Integrated Mobility Platform
- Cylinder evolved from direct used car sales to a broad mobility platform with financing and servicing.
- Integration creates a one-stop digital solution amid Egypt's fragmented used car market.
Founder Story and Growth
- Omar El-Dafraoui founded Cylinder in 2021, beginning by buying, refurbishing, and reselling used cars with guarantees.
- The company then grew to solve bigger market needs by adding financing and dealer tools.
Used Car Market Challenges in Egypt
- Egypt banned used car imports in 2021, forcing reliance on domestic inventory.
- This drives prices up, mirrors exchange rates, and leaves buyers exposed to risk in informal markets.