Ayan Capital secures £2.3m in debt and equity seed funding to scale its car finance platform

"Since Ayan Capital’s launch, the market response in the UK has been overwhelmingly positive. Our mission is to address the growing demand for private hire vehicle lending in the UK, based on the principles of Islamic finance. We find ourselves at an exciting intersection. The UK car finance market is growing, and there is a clear demographic of drivers from Muslim backgrounds who are in need of Sharia-compliant financial products. Private EV and hybrid car loans are popular for those who drive for companies like Uber, Bolt, Blacklane, Wheely, etc. and we are likely to see further demand increase. The product is open to everyone, and approximately 10% of our current customers are from non-Muslim backgrounds. The seed funding that we’ve recently closed is a testament to the current services and future potential of Ayan Capital in transforming Islamic finance in the UK. We are proud to have a committed group of investors with a wealth of experience becoming part of our story, and look forward to welcoming many more."