Transaction Summary
Development Partners International Venture Capital (DPI VC), through the Nclude Innovation Fund L.P. (Nclude Fund), has led a $15.7 million Series A investment in Cylinder Egypt Systems(Sylndr), an Egyptian automotive e-commerce platform founded in 2021. The company enables users to buy, sell, finance, and service certified used cars through a fully digital experience. This investment follows Sylndr’s $7.5 million loan facility in November 2024, arranged by a consortium of local banks and advised by EFG Hermes, a subsidiary of EFG Holding. The funding will accelerate Sylndr’s expansion across Egypt and enhance its technology, particularly its development of advanced pricing intelligence algorithms. The Nclude Fund focuses on fintech and digital innovation in Egypt, with a $105 million capital commitment made in March 2022. Other notable participants in the investment include Egyptian Gulf Holding, Uncovered Fund, Beltone Venture Capital, and Camel Ventures, as well as returning investors Algebra Ventures, Nuwa Capital, and
