UK's Ayan Capital raises $100 million ahead of banking licence application
London-based Islamic car financing provider Ayan Capital has secured a senior Shariah-compliant facility of up to $100 million (£75 million) to fund its growth plans as it looks to diversify its offerings.
The facility will fund new originations, helping reduce Ayan's cost of funding while supporting competitive pricing. The company intends to raise a Series A round in the coming months to fund its banking licence application, it said in a statement on Thursday.
Backers include private equity firm Cur8 Capital, UK-headquartered Empakt Ventures, venture capital fund IT Park Ventures and Caucasus VC, an early-stage investment fund.
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