Islamic Fintech Ayan Capital Secures £2.8 Million To Expand Halal Car Finance In The UK
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
London-based Islamic company Ayan Capital, has received £2.8 million ($3.6 million) in funding to grow and expand its operations UK. Cur8 Capital, another financial company, contributed to the funding.
The company helps drivers, like those working for Uber, Bolt, and other businesses, buy electric cars. They began helping drivers in the beginning of this year. Ayan has already helped people with more than £3.4 million for car loans.
The company revealed that everything is going well, and there have been no problems with the loans because of its smart computer system.
Ayan Meets The Rising Demand For Halal Finance In The UK
Ayan Capital uses its own technology and Islamic finance knowledge to disrupt traditional lending markets. The company is meeting the rising demand for halal finance in the UK. In November, Ayan achieved an impressive 97% month-on-month growth. This success has turned the company into a key player in Islamic finance.
The company’s growth is also tied to its recent launch of AyanPay, a service offering 0% finance for car repairs and home improvements. AyanPay allows customers to finance purchases up to £20,000 for 12 months. This new offering broadens Ayan’s reach, helping even more people access affordable and ethical financial services.
The team behind Ayan Capital previously built a leading Islamic digital bank in Central Asia. They also created a pioneering IT academy. Now, Ayan Capital is working to grow into a global Islamic neobank. It aims to meet the needs of Muslim-majority countries, where nearly half of the world’s unbanked population lives.
Ayan’s mission is to build a technology-driven system of halal financial services that is more convenient, affordable, and user-friendly than traditional banking.
Uzair Ali, Principal at Cur8 Capital, said with 85% of Gen Z Muslims seeking to bank in line with their values, Ayan is targeting a huge market. The company has scaled quickly, moving from car finance to broader services, and we’re excited to see what’s next.
Ayan Aims To Solve Customer Experience Challenges In The UK’s Fintech Market
Abdullo Kurbanov, the Chief Executive Officer and Co-founder of Ayan Capital, expressed gratitude for the support from investors. He explained that the funding will help Ayan develop more tech-driven products for the UK.
Despite a competitive fintech ecosystem, Ayan sees significant issues in customer experiences, such as long waiting times and hidden fees. The company plans to address these challenges while staying true to its values.
As Ayan Capital continues to grow, it remains focused on providing ethical financial solutions, helping to build a more inclusive and accessible banking system for Muslims and others around the world.
