Ayan Capital Secures £25 Million in Shariah-Compliant Debt to Expand Halal Finance Services

Islamic fintech Ayan Capital raises £25 million in Shariah-compliant debt from Partners for Growth to grow its halal vehicle finance and lifestyle offering in the UK.

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Ayan Capital Raises £25 Million in Major Shariah-Compliant Debt Deal

Islamic fintech Ayan Capital has secured a £25 million debt facility from institutional lender Partners for Growth (PFG), marking a major step forward in its mission to provide ethical, Shariah-compliant financial products to underserved Muslim communities in the UK.

The funding will support Ayan Capital’s continued expansion in the £21.7 billion UK used car finance market and accelerate the growth of its lifestyle finance product, Ayan Pay. The deal represents one of the most significant Shariah-compliant debt financings by a UK-based fintech in recent years and positions Ayan as a rising force in the broader halal finance space.

Fueling Growth in a Niche But Expanding Market

Ayan Capital was launched with a clear purpose: to deliver accessible, interest-free finance options that align with Islamic values. Its flagship product focuses on vehicle finance that complies with Shariah principles, targeting a growing demand within the UK’s 3.9 million-strong Muslim population.

The newly raised capital will be used to scale this core business and push forward the national rollout of Ayan Pay, a lifestyle financing tool that enables customers to pay for car repairs and home improvement services in instalments—up to £20,000 over 12 months—with zero interest.

Ayan Pay is designed for everyday needs, offering a flexible alternative to interest-based credit products that conflict with Islamic financial ethics. By focusing on short-term, practical purchases, Ayan aims to build trust and long-term engagement with a user base seeking compliant and transparent financial solutions.

Positioning for Long-Term Impact

The £25 million debt facility from PFG follows Ayan’s recent £3.4 million Pre-Series A equity raise. Together, these capital infusions mark a pivotal moment in the company’s strategic roadmap.

CEO and co-founder Abdullo Kurbanov has laid out an ambitious vision: raise a further £75–100 million in Shariah-compliant debt, finance £100 million in assets by 2026, and ultimately apply for a UK banking licence.

This trajectory reflects more than just product growth—it signals a calculated move to build a modern financial institution that meets the needs of a community largely overlooked by mainstream providers. The roadmap also implies an intent to scale not only lending capacity but institutional trust, technology infrastructure, and regulatory standing.

The Underserved Opportunity in Islamic Finance

Despite the UK’s position as one of Europe’s most diverse financial markets, Islamic finance remains largely underserved. While the UK is home to a growing Muslim population—projected to reach 10 million by 2050—the availability of halal finance products remains limited in both volume and variety.

This gap represents a substantial market opportunity. Islamic fintechs like Ayan Capital are uniquely positioned to fill the void, offering products that not only comply with Shariah law but are also competitive in terms of user experience, digital access, and real-world applicability.

Fintechs in this space aim to serve customers who want both modern financial tools and alignment with their ethical values. The rise of digital-native, Shariah-compliant platforms marks a shift from traditional Islamic banks to more nimble, inclusive alternatives that fit into today’s mobile-first world.

A Founder with Proven Fintech Credentials

Ayan Capital’s co-founder and CEO, Abdullo Kurbanov, brings significant experience to the venture. He was previously a co-founder of Alif Bank, a leading Islamic digital bank in Central Asia that now serves over 4 million customers. Under his leadership, Alif’s digital transactions grew 30-fold over a span of just three and a half years.

This background provides Ayan with a strong foundation of operational knowledge and growth strategy. Kurbanov’s experience in scaling a digital-first, Shariah-compliant institution in emerging markets adds credibility to Ayan’s goal of becoming a licensed bank in the UK.

With the new funding in place, the company can leverage that expertise to refine its product offering, expand its regional footprint, and deepen its relationship with the UK’s Muslim community.

A Milestone for Halal Finance in the UK

The £25 million debt raise is not just a win for Ayan—it’s a signal to the broader market that halal finance is gaining traction at the institutional level. Partners for Growth’s involvement shows that established debt providers are increasingly willing to support Shariah-compliant financial models, especially when paired with strong business fundamentals and a growing addressable market.

This trend is expected to continue as more institutional investors recognize the potential of Islamic fintech. By aligning their capital with firms that promote ethical, compliant lending, these backers gain access to fast-growing segments without compromising on risk standards or returns.

As halal finance moves from niche to mainstream, partnerships like this one will be critical in scaling infrastructure, maintaining regulatory compliance, and increasing product diversity.

Islamic Fintech Is Reaching a New Phase

Ayan Capital is part of a wider evolution in the Islamic fintech world. Over the past decade, the sector has matured from basic payment solutions to a full spectrum of financial services—including savings, credit, wealth management, and insurance—all delivered in a Shariah-compliant framework.

Startups are no longer focused solely on digitizing Islamic finance—they are now building it from the ground up, incorporating advanced technology, customer experience design, and embedded finance capabilities. The result is a new wave of platforms that serve not only Muslim consumers, but anyone seeking values-based finance.

Ayan’s product design reflects this shift. By offering services like Ayan Pay that meet universal needs—car repair, home improvement—while maintaining compliance, the company is effectively broadening its appeal without diluting its principles.

Looking Ahead: A Path Toward Becoming a Digital Islamic Bank

With momentum building and capital secured, Ayan Capital now has the tools to scale. The company’s goals for 2026 include financing £100 million in assets and moving closer to a full UK banking licence. If achieved, this would make Ayan one of the few Shariah-compliant digital banking platforms in the country with full regulatory backing.

The timing is right. Consumers are increasingly skeptical of traditional financial institutions and are actively seeking more ethical, transparent alternatives. Islamic fintechs are responding with platforms that offer both—and Ayan is positioning itself to lead that movement in the UK.

Conclusion: A Strong Signal for the Future of Islamic Finance

Ayan Capital’s £25 million raise is more than a funding announcement—it’s a turning point for halal finance in the UK. It demonstrates that Shariah-compliant financial models can attract institutional backing, compete in mainstream markets, and scale with the right leadership and infrastructure.

For the growing population seeking ethical, accessible, and compliant financial solutions, Ayan Capital is becoming more than an alternative—it’s becoming an essential player in the next era of inclusive fintech.