Ayan Capital, a fast-growing provider of halal vehicle financing, has raised up to GBP 25 million in Sharia-compliant financing facility from institutional debt provider Partners for Growth (PFG).

The investment reflects the rising demand for Islamic financial products in the UK while reinforcing Ayan Capital’s position as a key player in the sector.

The company aims to become a UK leader in Islamic banking, building on its offering of halal business car financing while serving private hire like Uber, Bolt, etc as well as business drivers seeking halal alternatives to purchase low-carbon emission cars

Ayan Capital operates in the GBP 21.70 billion UK used car finance market which is still dominated by non-tech players under regulatory scrutiny. The company offers a tech-led, commission-free model that puts customers first, financing them directly regardless of where they buy their car.

Expanding beyond vehicle financing, the company recently launched Ayan Pay, a 0% interest, 12-month financing covering home repairs, renovations, car repairs and furniture purchases.

It is worth noting that PFG, from which Ayan Capital secured its latest financing, is a global private credit firm with a strong 20-year track record of backing high-growth technology and fintech companies in more than 20 countries.

Moreover, this latest funding follows Ayan Capital’s recent GBP 3.40 million Pre-Series A round. The company aims to accelerate growth, enhance its technology-driven underwriting capabilities, targeting GBP 25 million in financing in 2025 and GBP 100 million in 2026.

COO of Ayan Capital, Furkat Suvhanov, stated: “Building on this momentum, with PFG’s support, we’re now beginning work on our next GBP 75–100 million Sharia-compliant debt raise.”

Noteworthy to mention that Islamic bank assets in the UK surged by 26% in 2023 to $8.20 billion, with Fitch Ratings projecting growth to $15 billion in the medium term.

Source: Mubasher

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