logo
logo

Egypt-based marketplace Sylndr raised $7.46 million in a debt financing round led by EFG Hermes to enhance customer experience and expand its financing options.

Nov 26, 202410 months ago

Amount Raised

$7.46 Million

CairoTransportation

Investors

Eg BankBank NxtEfg Corp SolutionsEfg Hermes

Description

Sylndr secured a $7.46 million capital facility to strengthen its position in Egypt's used car market. The facility was arranged with the assistance of EFG Hermes and involved several lenders, providing the company with necessary financial flexibility.

Company Information

Company

Sylndr

Location

Cairo, Cairo, Egypt

About

Sylndr is automotive focused e-commerce marketplace bringing innovation to the used-cars market, where customers can reliably and transparently sell and buy used cars. The company is aiming to build trust in the used-car market by becoming the go-to place for customers seeking to sell and buy their cars, through an extensive range of high-quality used vehicles accessible across a diverse set of financing solutions.

Related People

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers