Key Takeaways
- • Ayan Capital, a London-based Islamic fintech, has secured a £75 million (approximately $100 million) Shariah-compliant debt facility from Triple Point, structured as a senior ijara-based agreement to refinance existing debt and fund growth.
- • The facility enables Ayan to lower its cost of funding, allowing more competitive pricing for prime and near-prime UK customers traditionally underserved by mainstream lenders, while supporting the company's AyanCare vehicle maintenance program.
- • Ayan Capital, founded by Abdullo Kurbanov, Firdavs Mirzoev, and Zuhursho Rahmatulloev (previously co-founders of Alif, a Central Asian challenger bank serving 10+ million customers), launched its FCA-regulated retail product in late 2025 and is positioned toward future UK banking authorization.
- • The ijara model operates asset-backed and interest-free, with Ayan owning vehicles throughout the rental term while customers pay fixed monthly rentals, eliminating speculative risk and ensuring Shariah compliance.
- • This facility represents a significant scaling milestone—progressing from early-stage funding to institutional-grade debt—demonstrating institutional capital's growing appetite for Shariah-compliant fintech structures in the UK market.
Summary
Ayan Capital has secured a £75 million senior Shariah-compliant debt facility from Triple Point, marking a substantial funding milestone for the London-based Islamic car finance fintech. The facility is structured as an ijara-based agreement, a traditional Islamic financing model in which assets remain ownership-backed and free from speculative risk. This arrangement enables Ayan to refinance existing lender obligations and fund its next phase of expansion into broader financial services.
The facility directly addresses Ayan's cost of capital, according to co-founder and CEO Abdullo Kurbanov, enabling "more competitive pricing for eligible customers" in the prime and near-prime segments—demographics often overlooked by conventional UK lenders. Beyond vehicle financing, the capital supports AyanCare, a program under which Ayan assumes enhanced repair responsibility for vehicles it owns throughout the customer rental period. Under the ijara structure, Ayan retains full asset ownership while customers pay fixed monthly rentals established at contract inception, eliminating interest charges and speculative exposure.
Ayan Capital launched its FCA-regulated retail product in late 2025 and has positioned itself toward eventual UK banking authorization. The company was founded by Abdullo Kurbanov, Firdavs Mirzoev, and Zuhursho Rahmatulloev, each of whom previously co-founded Alif, a Central Asian challenger bank that serves more than 10 million customers across the region and Pakistan. Kurbanov emphasized that the facility builds "the balance sheet, systems and governance that support our long-term ambition to seek authorisation as a UK bank," signaling institutional-grade infrastructure development alongside product expansion.
Triple Point, an investment manager specializing in private markets with a dedicated specialty finance team, originated the facility. The transaction underscores institutional investor confidence in Shariah-compliant fintech structures and non-bank lender funding at scale. The jump from early-stage capital to a £75 million institutional ijara facility demonstrates the maturation of Islamic fintech as an institutional asset class in the UK market.
The facility directly addresses Ayan's cost of capital, according to co-founder and CEO Abdullo Kurbanov, enabling "more competitive pricing for eligible customers" in the prime and near-prime segments—demographics often overlooked by conventional UK lenders. Beyond vehicle financing, the capital supports AyanCare, a program under which Ayan assumes enhanced repair responsibility for vehicles it owns throughout the customer rental period. Under the ijara structure, Ayan retains full asset ownership while customers pay fixed monthly rentals established at contract inception, eliminating interest charges and speculative exposure.
Ayan Capital launched its FCA-regulated retail product in late 2025 and has positioned itself toward eventual UK banking authorization. The company was founded by Abdullo Kurbanov, Firdavs Mirzoev, and Zuhursho Rahmatulloev, each of whom previously co-founded Alif, a Central Asian challenger bank that serves more than 10 million customers across the region and Pakistan. Kurbanov emphasized that the facility builds "the balance sheet, systems and governance that support our long-term ambition to seek authorisation as a UK bank," signaling institutional-grade infrastructure development alongside product expansion.
Triple Point, an investment manager specializing in private markets with a dedicated specialty finance team, originated the facility. The transaction underscores institutional investor confidence in Shariah-compliant fintech structures and non-bank lender funding at scale. The jump from early-stage capital to a £75 million institutional ijara facility demonstrates the maturation of Islamic fintech as an institutional asset class in the UK market.
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