Egypt: Sylndr, an Online Used-Car Retailer, Raises $12.6m Pre-Seed to Disrupt Egypt's Automotive Market

23 May 2022
TechCrunch (San Francisco)
By Tage Kene-Okafor

Egypt is home to one of Africa's largest vehicle fleets, with over 6 million cars (80% are passenger cars) on its roads. According to this finding, most are used cars; their ratio to new vehicles is 3:1. But the used cars market isn't only enormous in Egypt; it is in almost every country with a large population globally.

Recently, there's been rapid digitization of this market, with several startups upending incumbents such as classifieds and hoping to define the new era of used-car-sale platforms. Some include U.K.'s Cazoo, India's Cars24 and Spinny, Brazil's InstaCarro and Mexico's Kavak.

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