UK Islamic Fintech Ayan Capital Secures £75 Million Facility to Support Growth and Banking Licence Application
Ayan Capital, an Islamic fintech offering halal car finance in the UK, has secured a senior Shariah-compliant facility of up to £75 million ($100 million) from Triple Point. The funding will support Ayan's next phase of growth as it prepares for its banking licence application and expands into new financial products such as cards and savings accounts. Since launching in early 2024, the company has attracted over 150,000 applicants with a strong customer engagement rate. It operates an in-house technology platform backed by experienced founders who previously built Alif, serving millions across Central Asia. Ayan plans to raise additional capital through a Series A round soon. The facility is expected to reduce the company's cost of funding and enable more competitive pricing for its customers. The UK Muslim community represents significant financial potential with an estimated $90 billion in bank deposits.
Topics: car financing halal finance Shariah-compliant banking startup funding