Ayan Capital, an Islamic car finance platform based in London, is pursuing a £25 million Series A funding round through a combination of debt and equity. Having recently closed a £2.3 million seed round, the platform aims to provide Sharia-compliant car financing up to £50,000 for private hire vehicle (PHV) drivers, mostly Muslim, who are in need of such services. The long-term vision is to evolve into a neobank for the Islamic population in the UK with plans for further expansion in Europe. The founding team, who also founded Alif Bank, a successful Islamic FinTech in Central Asia, aims to bring their expertise to the UK market. The recent funding round reflects the robust demand and future potential of Ayan Capital in addressing the distinct needs of their target demographic.

FinTech, Automotive Finance, Islamic Finance,United Kingdom, Europe, Central Asia

Islamic car finance platform eyes £25m raise