To increase financing for halal vehicles and broaden its Islamic fintech offerings in the UK, Ayan Capital secures £25 million from Partners for Growth.

Partners for Growth (PFG), a worldwide private credit business with 20 years of experience supporting high-growth fintech and technology firms, has provided £25 million in Sharia-compliant investment to Ayan Capital, a fast-expanding source of financing for halal vehicles.

The investment enhances Ayan Capital's standing in the industry and demonstrates the rising demand for Islamic financial solutions in the UK. For business drivers looking for Sharia-compliant options for buying low-emission automobiles, as well as private hire drivers utilizing services like Uber and Bolt, the firm offers halal business car finance.

Ayan works in the £21.7 billion used automobile lending industry in the UK, which is still controlled by established lenders under regulatory monitoring. The business sets itself apart with a commission-free, technology-driven business strategy that funds clients directly, independent of where they buy their cars. Beyond auto finance, Ayan also unveiled Ayan Pay, a 12-month payment plan with 0% interest for furniture purchases, house repairs, and auto maintenance.

The efficiency of Ayan Capital's underwriting technology was demonstrated last quarter when it more than doubled its finance issuance, rising 2.2x while keeping the non-performing loan rate at 0%. The company's £3.4 million pre-series A financing was followed by the most recent fundraising.

With the recently obtained £25 million, which is organized in accordance with Ijara wa Iqtina principles, Ayan hopes to improve its technology-led underwriting skills and expedite its growth. As it expands access to halal financial products in the UK, the business plans to raise £100 million by 2026 and £25 million this year. One of its long-term goals is to seek a banking license in the UK.

In Central Asia, Ayan CEO Abdullo Kurbanov co-founded Alif Bank, which served over four million customers and experienced a 30-fold increase in digital transactions over three and a half years. Ayan Capital builds on this success. By using the UK's legislative framework to support its growth, Ayan now aims to become a leader in Islamic banking in the nation.