£75m · Debt · Fintech · London, UK
Ayan Capital has secured a senior Shariah-compliant ijara facility of up to £75m from Triple Point. The London fintech will use the facility to refinance an existing lender and fund new car-finance originations, while reducing its cost of capital. This is debt financing rather than an equity round.
For a lender, the funding line is part of the product
Car-finance platforms grow only when they can fund the assets behind each customer agreement. In an ijara structure, the financier owns the vehicle and leases it to the customer, so Ayan needs capital that is both competitively priced and compatible with Islamic-finance principles. More facility capacity can translate directly into more originations.
The commercial test is underwriting performance. Lower funding costs help, but continued access to institutional capital will depend on credit losses, recoveries and the quality of Ayan’s servicing data. The company says its technology is built in-house and plans a separate Series A to support a banking-licence application; this £75m facility is intended for refinancing and receivables, not that equity-funded expansion.
Sources checked: Ayan company announcement; PR Newswire; Tech.eu Funding Explorer.
