Sylndr, an online used-car retailer, raises $12.6M pre-seed to disrupt Egypt’s automotive market

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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