UK-based halal vehicle finance fintech Ayan Capital has raised £25 million in Shariah-compliant debt financing from institutional provider Partners for Growth (PFG). The funding will support the company’s expansion in the £21.7 billion UK used car finance market and accelerate the rollout of its new 0% interest lifestyle finance product, Ayan Pay, which offers flexible payment plans for car repairs and home improvements up to £20,000 over 12 months.
This latest injection of capital follows Ayan’s recent £3.4 million Pre-Series A round and marks a strategic step toward its long-term goal of securing a £75-100 million Shariah-compliant debt raise by 2026. The company also aims to finance £100 million in halal-compliant loans and eventually pursue a UK banking license to further solidify its position in the Islamic finance sector.
The UK’s Muslim population—projected to reach 10 million by 2050—remains underserved by ethical financial products, despite growing demand for alternatives to conventional interest-based lending. Ayan Capital, co-founded by Abdullo Kurbanov (former co-founder of Alif Bank in Central Asia), is positioning itself as a leader in this niche. Under Kurbanov’s leadership, Alif Bank grew its digital transactions 30-fold in just 3.5 years, serving over four million customers—a track record that lends credibility to Ayan’s ambitious growth plans.
The new funding will enable Ayan to scale its technology, expand its customer base, and reinforce its commitment to ethical, interest-free financing solutions in a market dominated by traditional lenders.