Ayan Capital Secures £2.8 Million to Expand Halal Finance Offerings in the UK
Ayan Capital, a London-based Islamic fintech startup, has successfully raised £2.8 million in equity funding to accelerate its mission of providing halal finance solutions in the UK. The investment, led by Cur8 Capital, a platform offering ethical investment opportunities, will fuel the growth of Ayan’s products, including Islamic car finance and other services catering to the Muslim community.
This funding round highlights the growing interest and demand for ethical, Sharia-compliant financial products—a trend that Ayan is strategically capitalizing on as they aim to transform the UK’s finance sector with their digital solutions.
Ayan Capital: Innovating Islamic Finance in the UK
Ayan Capital is on a mission to provide accessible, Sharia-compliant financial products that are tailored to the needs of the Muslim community in the UK. In early 2024, the company began offering Islamic car finance specifically designed for private hire drivers working with platforms like Uber, Bolt, and Wheely. This initiative allows drivers to purchase electric vehicles (EVs) and low-carbon-emission plug-in hybrid cars, aligning with both Islamic finance principles and the UK’s push for greener transportation.
To date, Ayan Capital has successfully financed over £3.4 million, maintaining an impressive 0% non-performing loan (NPL) rate—an achievement that underscores the strong demand for their products and the company’s operational excellence.
AyanPay: A New Service Revolutionizing Financing for Car Repairs and Home Improvements
In addition to Islamic car finance, Ayan recently launched AyanPay, a 0% financing service designed to help customers pay for car repairs and home improvements. With AyanPay, users can finance purchases up to £20,000 for 12 months, making it easier to manage essential expenses without the burden of high-interest rates or hidden fees.
This new product complements Ayan’s growing portfolio of financial services and further strengthens its position as a leader in the Islamic fintech space.
Backed by a Proven Team with a Vision for the Future
Ayan Capital’s leadership team brings a wealth of experience from the world of fintech. The team previously built Alif, a banking and fintech group in Central Asia, which now serves 3.8 million customers and employs over 1,300 people. Their track record, coupled with deep expertise in Islamic finance, has enabled Ayan to scale quickly and attract the attention of ethical investors.
Uzair Ali, principal at Cur8 Capital, commented, “With 85% of Gen Z Muslims seeking financial services that align with their values, Ayan is targeting a massive and underserved market. The company has already scaled impressively from car finance to broader solutions and is well on its way to building a digital Islamic neo-bank. We are excited for what’s next, especially with Abdullo’s proven leadership and the team’s strong vision.”
The Growing Demand for Ethical Finance Among Gen Z Muslims
Ayan Capital’s growth reflects a larger shift within the financial landscape, particularly among younger Muslims. Research shows that a significant portion of Gen Z Muslims are increasingly looking for financial products that align with their faith-based values. As Ayan expands its offerings, it is perfectly positioned to tap into this underserved market, providing Sharia-compliant options for everything from vehicle financing to broader digital banking solutions.
Looking Ahead: Ayan Capital’s Plans for the Future
With this new round of funding, Ayan Capital plans to continue expanding its suite of Islamic finance products, with the ultimate goal of building a comprehensive digital Islamic neo-bank. As the company continues to grow, they are committed to creating more opportunities for Muslims to manage their finances in a way that aligns with their values—without compromising on quality, transparency, or convenience.
For now, Ayan’s immediate focus is to scale its operations, especially in the UK market, and to introduce more innovative products that meet the financial needs of the Muslim community.
Conclusion: Ayan Capital at the Forefront of Ethical Islamic Finance
Ayan Capital’s £2.8 million funding is a clear indicator of the increasing demand for ethical, Sharia-compliant financial products in the UK. By offering halal car finance, zero-interest financing, and other Islamic finance solutions, the company is setting a new standard for the industry and making it easier for Muslims to access finance that aligns with their values.
As Ayan Capital continues to expand its offerings, the future of Islamic fintech in the UK looks brighter than ever. With a strong foundation in ethical finance and a clear vision for the future, Ayan is poised to become a leader in this growing market.
