aiBANK and valU announced today a partnership with Egypt’s online used-cars retailer, Sylndr, to provide more payment options for those looking to buy high-quality used cars.
Sylndr offers a platform for customers seeking to sell and buy used cars, through the platform customers can directly sell their cars and can also buy from an extensive range of cars available.
Sylndr’s customers can now use valU’s installment plans with 6 to 60-month tenures on the platform. aiBANK will offer automotive loans that go up to 7 years with payment plans and services that will help people purchase used cars. Through the partnership, aiBANK will also offer Sylndr’s customers services such as free insurance and an extended warranty.
Sylndr raised $12.6 million in a pre-seed funding round led by RAED Ventures, with participation from Algebra Ventures, Nuwa Capital, 1984 Ventures, Global Founders Capital, among other investors earlier this year.
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