Egypt’s First Digital Financing Platform for Cars: «Sylndr» and «TRU» Launch «Sylndr Swift–powered by TRU»

Cairo 22 Jan 2025:

Sylndr, Egypt’s leading used cars platform, in partnership with [newly established NBFI TRU], is proud to announce the launch of Sylndr Swift (powered by TRU) — Egypt’s first fully digital loan financing application for car buyers. By leveraging a cutting-edge digital process and a wide selection of refurbished vehicles, Sylndr Swift transforms the car-purchasing journey, offering:

• Approvals in as little as 10 minutes

• Financing amounts up to EGP 5 million

• Down payments starting at just 20%

• Flexible repayment plans of up to 6 years

Omar El Defrawy, Co-Founder and CEO of Sylndr, commented: “Sylndr Swift is a crucial milestone for us at Sylndr. We’ve always strived to introduce innovative, customer-centric solutions, and Swift is central to our vision of building a fully integrated mobility platform. We’re thrilled to partner with TRU, who share our commitment to elevating financing solutions for customers looking to purchase cars.”

Sylndr Swift addresses a significant gap in Egypt’s automotive market: a quick, reliable, and user-friendly financing solution. By streamlining the entire application process, the new platform enables customers to purchase used cars with confidence, supported by Sylndr’s stringent quality checks and TRU’s robust financial framework.

Ahmed Seoudi, CEO of TRU, added: “Our partnership with Sylndr to launch Sylndr Swift is all about providing a fully digital, seamless experience for car buyers. We’re excited to work with Sylndr, who have built a trusted platform for used car buyers, and we look forward to collaborating on future innovative products.”

In addition to these immediate features, Sylndr Swift will expand its portfolio over the next 12 months, introducing a variety of new, innovative products catering to all car buyers—whether new or used. This roadmap underscores Sylndr’s and TRU’s joint commitment to continually enhancing the automotive financing experience.

To reinforce buyer confidence, Sylndr provides a 90-day warranty and a seven-day money-back guarantee on its refurbished vehicles. This emphasizes on the quality and transparency which further positions Sylndr as a trusted leader in Egypt’s used car market.

About Sylndr

Founded in 2022, Sylndr is Egypt’s leading used cars marketplace , providing a trusted, reliable and transparent platform for consumers to buy, sell, and finance high-quality used vehicles. Driven by a mission to bring convenience and reliability to Egypt’s automotive sector, Sylndr is on the path of becoming a comprehensive 360-degree mobility solutions provider, expanding its unique offerings that support every aspect of consumers’ mobility needs.

About TRU

TRU app was launched in 2024 to provide flexible financing solutions tailored to individual needs.

Its services include car financing, major purchases, and luxury products. TRU focuses on simplicity and clarity in all its offerings, while providing flexible repayment plans.

The TRU app received the ‘Fastest Growing Finance App’ award from Finance International, reflecting its commitment to delivering exceptional services and its rapid growth in the market