UK based Islamic fintech start-up “Ayan Capital” secured a Shariah-compliant financing facility of £25 million plus with Californian private credit firm Partners for Growth.

Founded in 2023 by Firdavs Mirzoev, Zuhursho Rahmatulloev, and Abdullo Kurbanov (co-founder of Tajikistan based challenger Alif Bank), Ayan Capital provides halal car financing for private hire vehicles, business fleets, and chauffeurs through its rent-to-buy model.

The fintech’s latest facility builds on a £3.4 million pre-Series A funding round closed in December, which supported the company’s UK debut last month, as well as the launch of Ayan Pay, a 12-month financing solution covering car repairs, furniture purchases, home repairs and renovations.

With its new facility, Ayan intends to enhance its tech-driven underwriting capabilities and expand its current halal car finance offering, “targeting £25 million in financing this year and £100 million in 2026”, according to a statement.

Part of the start-up’s long-term vision includes applying for a UK banking licence, and introducing integrated consumer loans for SMEs and retail purchases.

Furthermore, in comments, COO Furkat Suvhanov reveals that “we’re now beginning work on our next £75–100 million Shariah-compliant debt raise”.