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# Egypt's used car retail startup Sylndr raises $12.6 million
- URL: https://www.techloy.com/egypts-used-car-retail-startup-sylndr-raises-12-6-million/
- Published: 2022-05-23T12:24:21.000Z
- Updated: 2022-12-08T00:53:42.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: Mobility, Egypt, E-commerce

[Sylndr,](https://sylndr.com/en/car-type) 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.