Connect with us

Technology

Ayan Capital Secures Shariah-Compliant Financing Facility of up to £25 Million from Partners for Growth

Published

1 year ago

on

New funding will be used to boost growth, scale tech-led underwriting, and expand UK access to halal finance, targeting £25m in 2025 and £100m by 2026.

LONDON, April 2, 2025 /PRNewswire/ — Ayan Capital, a fast-growing provider of halal vehicle financing, has secured up to £25 million in Shariah-compliant financing facility from institutional debt provider Partners for Growth (PFG), a global private credit firm with a strong 20-year track record of backing high-growth technology and fintech companies in more than 20 countries. This investment reflects the rising demand for Islamic financial products in the UK and reinforces Ayan Capital’s position as a key player in the sector.

Ayan Capital provides halal business car financing, serving private hire (Uber, Bolt, etc.) and business drivers seeking halal alternatives to purchase low-carbon emission cars. Operating in the £21.7 billion UK used car finance market – still dominated by non-tech players under regulatory scrutiny – Ayan offers a tech-led, commission-free model that puts customers first, financing them directly regardless of where they buy their car. Expanding beyond vehicle financing, the company recently launched Ayan Pay, a 0% interest, 12-month financing covering home repairs, renovations, car repairs and furniture purchases.

Ayan Capital more than doubled its financing issuance last quarter, growing 2.2x while maintaining a 0% non-performing loan rate – demonstrating the strength of its underwriting technologies and expertise. This latest funding follows Ayan Capital’s recent £3.4 million Pre-Series A round.

With this new £25 million funding, which is based on Ijara wa Iqtina principles, Ayan Capital aims to accelerate growth, enhance its technology-driven underwriting capabilities, targeting £25 million in financing this year and £100 million in 2026, broadening access to halal financial products across the UK and laying the groundwork for a long-term vision that includes a UK banking license application.

Ayan Capital is building on the success of Alif Bank, also co-founded by Abdullo Kurbanov and based in Central Asia, whose digital transactions grew by 30x over three and a half years, serving over four million customers. Now, Ayan aims to become a UK leader in Islamic banking, leveraging the country’s strong regulatory environment.

Ayan is addressing the gap in UK Islamic finance. Despite the UK’s Muslim population set to reach 10m by 2050, according to some estimates, Islamic banking remains severely underserved, with only 0.1% of total banking assets – even though 82% of UK Muslims seeking Shariah-compliant products. However, momentum is building – Islamic bank assets in the UK surged 26% in 2023 to $8.2 billion, with Fitch Ratings projecting growth to $15 billion in the medium term.

Armineh Baghoomian, Co-Head of Fintech at Partners for Growth, stated: “Ayan Capital is redefining what Islamic finance can look like in a modern, tech-enabled ecosystem. Their strong traction, disciplined underwriting, and commitment to financial inclusion closely align with PFG’s mission to support founders building next-generation financial infrastructure. We’re proud to support Ayan as they scale access to Shariah-compliant products across the UK and beyond.”

Richard Osborne, Investment Manager at PFG stated: “We are excited to support Ayan’s mission to expand access to Shariah-compliant financing throughout the UK. The team’s experience, strong underwriting expertise and technology-first approach align well with PFG’s global strategy of backing great founders building high-growth, innovative financial services businesses. We’ve been particularly impressed by Ayan’s growth trajectory and ability to achieve key milestones at a rapid pace. We look forward to seeing Ayan’s continued success and impact on the market.”

Abdullo Kurbanov, Co-founder and CEO of Ayan Capital stated: “We are grateful for the trust and support of the PFG team. Our mission is to make halal financing more accessible in every way – cost, technology, and customer experience. Choosing a halal option should not mean paying more. While we are still at the beginning of our journey, we are wholeheartedly committed to building a financial system that is open to all – one that is not only halal but also more competitive, convenient, and innovative than conventional alternatives.”

Furkat Suvhanov, COO of Ayan Capital, stated: “We’re growing rapidly while maintaining exceptional portfolio quality and customer service. Our partnership with PFG reflects the strength of our model and supports our long-term capital strategy. Building on this momentum, with PFG’s support, we’re now beginning work on our next £75–100 million Shariah-compliant debt raise.”

About Ayan Capital

Ayan Capital is a halal, technology-driven financial services provider committed to making Islamic finance accessible to millions across the UK and beyond. Founded by Abdullo Kurbanov, Firdavs Mirzoev, and Zuhursho Rahmatulloev, the company is laying the groundwork for the long-term vision of a banking license application in the UK.

About Partners for Growth

Partners for Growth (PFG) is a global private credit firm specializing in custom debt solutions for high-growth companies. For over twenty years, PFG has provided growth debt financing to tech, fintech, healthcare, and tech-enabled companies to accelerate their path to profitability or finance specific assets at pivotal stages of growth. Since inception, PFG has partnered with more than 250 companies across 20 countries.

TMT Global Advisers provided financial advice to Ayan Capital on this transaction. TMT Global Advisers is an independent mid-market advisory firm specializing in M&A and fundraising for tech, telecom, and media clients worldwide.

Photo: https://mma.prnewswire.com/media/2656298/Ayan_Capital_UK_Team.jpg
Photo: https://mma.prnewswire.com/media/2656299/Ayan_Capital_Tajikistan_Team.jpg
Logo:  https://mma.prnewswire.com/media/2656297/Ayan_Capital_Ltd_Logo.jpg

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/ayan-capital-secures-shariah-compliant-financing-facility-of-up-to-25-million-from-partners-for-growth-302418284.html

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

TCL Congratulates Spain’s National Football Team on a Historic Championship Victory

Published

2 minutes ago

on

July 21, 2026

By

TCL joins supporters across Spain in celebrating La Roja’s return to the summit of international football

PARIS, July 21, 2026 /PRNewswire/ — TCL, a leading global consumer electronics brand and premium partner of the Royal Spanish Football Federation (RFEF), congratulates the Spanish national football team, who picked up the biggest trophy of the summer this weekend.

Sixteen years after La Roja’s first triumph, Spain has once again delivered a defining moment in the country’s sporting history. Since 2023, TCL has supported the Royal Spanish Football Federation, sharing the passion for a sport capable of uniting generations and creating unforgettable moments for fans globally.

“Congratulations to La Roja on this extraordinary achievement. Their journey reflects the talent, determination and collective spirit that make football a powerful source of inspiration,” said Stefan Streit, CMO at TCL Europe. “As premium partner of the Royal Spanish Football Federation, we are proud to celebrate alongside supporters across Spain and help fans experience the games through the latest technologies.”

A Victory Shared Beyond the Stadium

At a time when entertainment is enjoyed across multiple devices, a major football final remains one of the few occasions that can gather families and friends around the same screen. These are the moments TCL builds its entertainment technology to serve.

The TCL SQD-Mini LED TV Series is designed to bring greater scale, detail and intensity to live sport, combining precise light control, vivid colour and immersive large-screen viewing. Paired with powerful home audio, TCL televisions help audiences follow the movement of the match, hear the energy of the crowd and experience every moment with greater impact.

Beyond home entertainment, TCL’s wider ecosystem of air conditioners, refrigerators, washing machines and connected lifestyle products supports comfort throughout the home, whether families are preparing for the match, welcoming friends or celebrating together after the final whistle.

Supporting La Roja and the Power of Sport

TCL takes pride in its extensive sports sponsorships and in supporting leading national football teams across Europe.

As premium partner of the Royal Spanish Football Federation, TCL brings the passion and determination of La Roja closer to supporters while reinforcing its commitment to enhancing the way major sporting moments are experienced at home.

In Italy, TCL partners with the Federazione Italiana Giuoco Calcio, supporting the viewing experience for Azzurri fans. The company is also present in Germany as official partner of the German Football Association, alongside its support for the Polish, Czech and Slovak national football teams. TCL is also a global partner of Arsenal Football Club, extending its connection with football fans across international markets.

TCL’s commitment to sport also extends beyond football. Most recently, the company became a Worldwide Olympic and Paralympic Partner through to 2032, supporting fan and athlete experiences across the Olympic and Paralympic Games. This reflects TCL’s long-term commitment to using technology to enhance the sporting experience and its belief in the power of sport to unite cultures, communities and generations.

Discover TCL products designed to elevate the home viewing experience: https://www.tcl.com/eu/en

About TCL

TCL Electronics specializes in the research, development and manufacturing of consumer electronics including TVs, mobile devices, audio devices, smart home products and appliances. Combining thoughtful design and innovative technology to inspire greatness, our lineup delivers must-have features and meaningful experiences. As one of the world’s largest consumer electronics brands, our vertically integrated supply chain, and state-of-the-art display panel factory help TCL deliver innovation for all. For more information, please visit: https://www.tcl.com

TCL is a registered trademark of TCL Corporation. All other trademarks are the property of their respective owners. 

Photo – https://mma.prnewswire.com/media/3006928/image1.jpg
Photo – https://mma.prnewswire.com/media/3006929/image2.jpg

View original content:https://www.prnewswire.co.uk/news-releases/tcl-congratulates-spains-national-football-team-on-a-historic-championship-victory-302830226.html

Continue Reading

Technology

Unlimited Systems Data Breach Exposes Patient Health and Personal Information: Edelson Lechtzin LLP Investigates Class Action Claims

Published

2 minutes ago

on

July 21, 2026

By

National data breach law firm offering free case evaluations to individuals whose personal and protected health information may have been exposed after an unauthorized actor accessed files maintained by healthcare software vendor Unlimited Technology Systems, LLC.

NEWTOWN, Pa., July 20, 2026 /PRNewswire/ — Edelson Lechtzin LLP, a national class action law firm, is investigating data privacy claims arising from the Unlimited Systems data breach, a cybersecurity incident that exposed personal and protected health information maintained by Unlimited Technology Systems, LLC (“Unlimited”), a healthcare practice management software and revenue cycle management company. Unlimited disclosed the incident in a sample notice submitted to the Iowa Attorney General’s Office on July 1, 2026, after determining that an unauthorized actor had accessed files containing the personal and health information of patients served through its practice management software.

What Happened

On October 19, 2025, Unlimited Technology Systems detected unauthorized activity within its commercial data center and launched an investigation with the assistance of a cybersecurity forensic firm. That investigation determined that, between October 5, 2025, and October 10, 2025, an unauthorized actor accessed files and may have obtained copies of personal information belonging to patients of the healthcare providers Unlimited serves. Unlimited states that it notified law enforcement and conducted a review of the data involved, and it later disclosed the incident to state regulators, including through a sample notice submitted to the Iowa Attorney General’s Office on July 1, 2026. The total number of individuals affected nationwide has not been publicly disclosed.

Information Exposed

The Unlimited Systems data breach may have compromised both personally identifiable information (PII) and protected health information (PHI). The PII potentially involved includes names, Social Security numbers, dates of birth, email and mailing addresses, phone numbers, demographic information, and scanned documents such as copies of driver’s licenses or other government identification, insurance cards, and intake forms. The PHI potentially involved includes health insurance policy numbers, claims and benefits information, medical record numbers, dates of service, and diagnosis information.

Who Is Behind the Unlimited Systems Data Breach?

As of Unlimited’s disclosure, no data extortion or ransomware group has publicly claimed responsibility for the attack, and Unlimited has not publicly identified the responsible threat actor.

Who May Be Impacted

Patients of healthcare providers that use Unlimited Technology Systems’ practice management software — including individuals who receive notice that their information was involved in the incident — may face an increased risk of identity theft and fraud.

Your Legal Options

Edelson Lechtzin LLP is investigating a potential class action to pursue legal remedies on behalf of individuals whose sensitive personal and protected health information may have been compromised in the Unlimited Systems breach. The firm will evaluate your rights and potential claims at no cost.

Contact Us for a Free Case Evaluation

Speak confidentially with a data privacy attorney today: Marc Edelson, Esq., Edelson Lechtzin LLP, 411 S. State Street, Suite N-300, Newtown, PA 18940; Phone: 844-696-7492 ext. 2; Email: medelson@edelson-law.com; Web: www.edelson-law.com. Or click HERE to request a free consultation.

Recommended Protective Steps

Review account statements, credit reports, and explanation-of-benefits statements from your health insurer regularly, and remain vigilant for suspicious activity. If Unlimited Technology Systems offered you complimentary identity monitoring services through Kroll, consider enrolling using the activation code and verification ID included in your notification letter before the deadline stated in the notice. Confirm whether your information was involved in the incident and preserve any letters or emails you received about the breach. Consider placing fraud alerts and credit monitoring, and consider requesting an IRS Identity Protection PIN to guard against tax-related fraud. Those with questions may also call the dedicated assistance line at 844-576-3063.

About Unlimited Technology Systems

Unlimited Technology Systems, LLC is a healthcare software and revenue cycle management company based in Montgomery, Ohio. It provides practice management software to healthcare organizations and providers and processes data on their behalf, which is why patients of those providers may be affected by this incident even without a direct relationship with the company.

About Edelson Lechtzin LLP

Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to data breach litigation, the firm handles class and collective actions involving securities and investment fraud, federal antitrust violations, ERISA employee benefit plans, wage theft, and consumer fraud

Media and Partnership Inquiries: Use the contact information above to connect with our team regarding interviews, co-counsel opportunities, and referral partnerships.

Legal Notice: This press release may be considered Attorney Advertising in some jurisdictions.

View original content to download multimedia:https://www.prnewswire.com/news-releases/unlimited-systems-data-breach-exposes-patient-health-and-personal-information-edelson-lechtzin-llp-investigates-class-action-claims-302830236.html

SOURCE Edelson Lechtzin LLP

Continue Reading

Technology

Binance Further Expands VIP Access with Updated Holder and OTC Criteria

Published

2 minutes ago

on

July 21, 2026

By

Lower Holder VIP 3 threshold and OTC Spot Volume recognition make VIP progression more accessible

ABU DHABI, UAE, July 21, 2026 /PRNewswire/ — Binance today announced further updates to its VIP Program criteria, lowering the VIP 3 Wallet Assets threshold and integrating OTC Spot Trading Volume into Spot Trading Volume calculations for VIP qualification.

The updates build on Binance’s March 2026 VIP Program refresh, which lowered selected VIP thresholds and introduced new pathways to recognize high-value users earlier in their journey. The latest changes are designed to make VIP status more accessible for eligible holders and to better recognize users who are active across both Spot and OTC trading.

Effective July 21, 2026 at 08:00 UTC, the Wallet Assets requirement for VIP 3 will be reduced from $3,000,000 to $1,000,000. The change enables more eligible holders to access VIP 3 benefits, including applicable VIP fee rates, priority support, higher limits, advanced insights, event invitations, and other VIP-only benefits.

Binance is also updating how OTC Spot Trading Volume contributes to VIP qualification. From the same effective date, OTC Spot Trading Volume will count at a 4x multiplier toward Spot Trading Volume. For example, $1 million in OTC Spot Trading Volume will count as $4 million toward the applicable Spot Trading Volume threshold.

In addition, OTC-related VIP qualification will no longer be capped at VIP 4. By incorporating OTC Spot Trading Volume into the broader Spot Trading Volume metric, eligible users may now progress through the full VIP framework up to VIP 9, subject to meeting the applicable BNB Balance and qualification requirements.

“We continue to refine the Binance VIP Program to better reflect how our users engage across the platform,” said Catherine Chen, Head of VIP and Institutional at Binance. “By lowering the VIP 3 asset holding threshold and recognizing OTC Spot Trading Volume within Spot Volume qualification, we are creating a more flexible and accessible path for users to progress through VIP tiers while maintaining clear, measurable criteria.”

There are no changes to VIP trading fees as part of this update. Users who qualify under the new criteria will be automatically upgraded daily at 08:00 UTC to the corresponding VIP tier. If a user qualifies under multiple criteria, their VIP level will reflect the highest level they meet.

Users can view their latest VIP level in the My VIP Mobile Hub. Full details on the updated VIP Program criteria are available on Binance.

Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.

About Binance

Binance is a leading global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume and registered users. Binance is trusted by more than 320 million people in 100+ countries for its industry-leading security, transparency, trading engine speed, protections for investors, and unmatched portfolio of digital asset products and offerings from trading and finance to education, research, social good, payments, institutional services, and Web3 features. Binance is devoted to building an inclusive crypto ecosystem to increase the freedom of money and financial access for people around the world with crypto as the fundamental means. For more information, visit: https://www.binance.com.

About Binance VIP & Institutional

Binance VIP & Institutional empowers institutions and private wealth clients with robust asset management infrastructure, personalized VIP services and advanced end-to-end institutional trading tools on the world’s largest cryptocurrency exchange by trading volume and registered users. With deep financial services experience in both traditional and crypto markets, its global team of trusted experts provides VIP & Institutional clients with the support they need to confidently capitalize on the industry’s deepest liquidity and tightest markets.

For more information, visit: https://www.binanceinstitutional.com

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/binance-further-expands-vip-access-with-updated-holder-and-otc-criteria-302830246.html

SOURCE Binance

Continue Reading

Trending