Ayan Capital secures £25m to expand Halal vehicle finance in UK

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Alejandro Gonzalez

Wed, Apr 2, 2025, 5:56 AM 3 min read

Ayan Capital, a rapidly increasing supplier of halal conveyance financing, has secured £25 cardinal successful Sharia-compliant backing from Partners for Growth (PFG), a planetary backstage recognition steadfast with a 20-year way grounds of backing high-growth fintech and exertion companies.

The concern reflects the increasing request for Islamic fiscal products successful the UK and strengthens Ayan Capital’s presumption successful the sector. The institution provides halal concern car financing for backstage prosecute drivers utilizing platforms specified arsenic Uber and Bolt, arsenic good arsenic concern drivers seeking Sharia-compliant alternatives for purchasing low-emission vehicles.

Ayan operates wrong the UK’s £21.7 cardinal utilized car concern market, which remains dominated by accepted lenders facing regulatory scrutiny. The institution differentiates itself with a technology-driven, commission-free exemplary that finances customers directly, careless of wherever they acquisition their vehicles. Expanding beyond conveyance financing, Ayan precocious introduced Ayan Pay, a 0% interest, 12-month instalment program for location repairs, renovations, car repairs, and furnishings purchases.

Ayan Capital much than doubled its financing issuance past quarter, increasing 2.2x portion maintaining a 0% non-performing indebtedness rate, highlighting the effectiveness of its underwriting technologies. The latest backing follows the firm’s £3.4 cardinal Pre-Series A round.

Using the recently secured £25 million, structured nether Ijara wa Iqtina principles, Ayan aims to accelerate its enlargement and heighten its technology-led underwriting capabilities. The institution is targeting £25 cardinal successful financing this twelvemonth and £100 cardinal by 2026 arsenic it broadens entree to halal fiscal products successful the UK. Its semipermanent imaginativeness includes applying for a UK banking licence.

Ayan Capital builds connected the occurrence of Alif Bank, co-founded by Ayan CEO Abdullo Kurbanov successful Central Asia, which saw integer transactions turn 30-fold implicit 3 and a fractional years, serving much than 4 cardinal customers. Now, Ayan seeks to found itself arsenic a person successful UK Islamic banking, leveraging the country’s regulatory situation to thrust its expansion.

Islamic concern remains underserved successful the UK, contempt projections that the UK Muslim colonisation could scope 10 cardinal by 2050. Currently, Islamic banking accounts for conscionable 0.1% of full banking assets, though 82% of UK Muslims question Sharia-compliant products. However, maturation is accelerating: Islamic slope assets successful the UK surged 26% successful 2023 to $8.2 billion, with Fitch Ratings predicting an summation to $15 cardinal successful the mean term.

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