Investment: “Ayan Capital raises $100M”
Ayan Capital, a London, UK-based provider of a halal car finance platform, has received a senior Shariah-compliant facility of up to £75M ($100M) originated by investment manager Triple Point.
Other backers include Cur8 Capital, Empakt Ventures, IT Park Ventures and Caucasus VC.
Led by CEO and co-founder Abdullo Kurbanov, Ayan Capital launched in early 2024. The company provides a car finance platform that operates under an Ijara wa Iqtina structure, whereby Ayan buys and owns each vehicle throughout the term, carrying ownership risk while customers pay fixed monthly rentals and take ownership at the end of the term.
Ayan builds its technology in-house and offers AyanCare, a product that takes enhanced responsibility for unexpected mechanical and electrical repairs; its contracts are reviewed annually by independent Shariah advisers. Since launching, more than 150,000 people have started an application with Ayan. The company intends to raise a Series A round in the coming months to fund its banking licence application.
The facility will be used to fund new originations, lower the company’s cost of funding, support more competitive pricing and help prepare its UK banking licence application.
