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

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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.

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Corgi Insurance Announces Artist Residency to Support Local Creatives at Corgi Cafe

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SAN FRANCISCO, July 20, 2026 /PRNewswire/ — Corgi Insurance has announced the launch of its Artist Residency Program, a new initiative designed to support artists, illustrators, writers, photographers, filmmakers, and creators working at the intersection of technology and culture.

The residency will be based at Corgi Cafe, the company’s 24/7 community space in San Francisco built for founders, engineers, investors, and operators. Since opening, the cafe has become a home for hackathons, demo days, founder dinners, product launches, and late-night building sessions. With the residency, Corgi is expanding that community to include the creatives documenting, interpreting, and shaping this moment in technology.

Residents will receive workspace at the cafe’s central warehouse in San Francisco, featuring 30-foot ceilings, creative tools and materials, access to Corgi’s network of founders and builders, and opportunities to showcase their work through exhibitions, talks, installations, publications, and community events. The program gives artists proximity to the people and ideas driving technological change while bringing creative perspectives and storytelling into the startup ecosystem.

The launch reflects Corgi’s belief that the next generation of iconic technology companies will be built not only by engineers and operators, but also by writers, designers, filmmakers, and artists capable of translating complex ideas into culture.

“I fell in love with art and culture while working in crypto and digital art. Seeing creators flourish around community and new technology shaped me deeply, and that vision now lives on through Corgi Cafe,” said Trevor Owens, Head of Cafe at Corgi. “Some of the most important movements in digital art emerged not from institutions, but from people gathering in shared spaces, experimenting together, and supporting one another’s work. We want to bring that same ethos to Corgi Cafe. San Francisco has an incredible community of local artists, and the Artist Residency is our way of investing in the people documenting, interpreting, and shaping this moment in technology and culture.”

The Artist Residency is an effort to make Corgi Cafe a place not only where companies are built, but where culture around technology is created. Applications for the inaugural Corgi Artist Residency are now open. Local artists interested in joining San Francisco’s builder community and creating work alongside founders, engineers, and operators can apply today. The residency will launch in San Francisco before expanding to additional Corgi Cafe locations across the country. Apply here: corgicafe.com/residency

About Corgi

Corgi Insurance is the first AI-native insurance company. Backed by decades of insurance expertise, Corgi has raised $374 million since its founding, most recently at a $2.6B valuation.

Media Contact: Erika Lee, erika@corgi.com 

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Infobip research reveals APAC businesses scaling AI-powered defenses to counter surge in automated fraud

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Fraudsters are leveraging AI to automate and personalize attacks, but enterprises are fighting back

KUALA LUMPUR, Malaysia, July 21, 2026 /PRNewswire/ — New research from global AI-first cloud communications platform Infobip reveals a growing surge in AI-powered fraud and enterprise defenses. Analyzing billions of interactions globally, Infobip’s 2026 Fraud & Security Report highlights a year of dramatic contrasts. There have been record volumes of blocked fraudulent traffic alongside the rapid scaling of intelligent, AI-powered defenses.

The report reveals that while fraudsters are using AI to scale and personalize harmful messaging, leading to a 77% increase in detected threats, businesses are responding in kind. Adoption of AI-powered fraud detection grew by 71% year-on-year, while pattern-based detection increased by 105%, underscoring a shift toward adaptive security.

Matija Ražem, Chief Commercial Telecom Officer at Infobip, said: “Fraudsters are using AI to automate and scale campaigns faster than ever, but AI-powered protection is evolving just as fast. The significant growth in AI-driven detection proves that leading organizations are no longer treating security as an afterthought, they are building it directly into their communication infrastructure.”

The report also highlights distinct fraud trends emerging across the Asia Pacific region.

Across APAC, enterprises are navigating an increasingly complex fraud environment as digital engagement and mobile-first banking continue to accelerate. At the network level, APAC is among the most technologically advanced regions based on Infobip data. Operator firewalls are highly automated, while mature AI-powered detection models can identify and block most threats without human intervention.

At the enterprise level, however, OTP-based fraud remains a significant challenge in several key markets. Certain territories continue to record elevated suspicious authentication rates, indicating structural fraud patterns rather than isolated campaigns.

Regulatory scrutiny is also intensifying across the region. In countries such as the Philippines, Malaysia, Singapore, and India, regulators have introduced stronger authentication requirements, reflecting a broader regional shift toward treating SMS OTP vulnerabilities as both a security and compliance priority.

This growing focus on fraud prevention is driving stronger enterprise action across APAC. For example, PLDT Enterprise strengthened security across Smart’s network after deploying Infobip’s SMS and Voice Firewall. The deployment helped reduce spam, smishing, and fraudulent SMS traffic, blocking more than 1.3 billion spam and fraud attempts while improving SMS delivery and overall network security.

“In APAC’s rapidly growing digital economy, trust is emerging as a key competitive advantage, and businesses need to make Network APIs a core part of their fraud prevention and authentication strategy. Companies should consider leveraging Network APIs’ capabilities such as Number Verify, SIM Swap detection, KYC Match, and Device Location Verification to better stay ahead of evolving threats while delivering seamless customer experiences. By taking this a step further and orchestrating these capabilities through a CPaaS platform, businesses can create a centralized, resilient security framework that helps reduce fraud without disrupting the user experience,” commented Goran Valjak, Director of Telecom Growth and Strategy Asia at Infobip.

Download the full Fraud & Security Trends 2026 report to find out more insights: https://bit.ly/3R2W9pl.

About Infobip

Infobip is a global cloud communications platform that enables businesses to build connected experiences across all stages of the customer journey, with AI as the driving force of innovation. Through a single, natively built platform, Infobip delivers omnichannel engagement, identity, user authentication and contact centre solutions that help businesses and partners overcome the complexity of consumer communications while driving growth and increasing customer loyalty. Infobip is focused on enabling and accelerating AI adoption as it continues its transformation into an AI-first company. Infobip’s technology has the capacity to reach over seven billion mobile devices in 6 continents connected to 10k+ connections of which 800+ are direct operator connections. The company was established in 2006 and is led by its co-founders, CEO Silvio Kutić and CTO Izabel Jelenić.

Recent award wins include:

Infobip ranked #16 in Fortune’s Europe’s Most Innovative Companies 2026 (June 2026), up from its inaugural #68 ranking in 2025.Infobip named a Leader in the Gartner® Magic Quadrant™ for Communications Platform as a Service (CPaaS) for the fourth consecutive year. Positioned furthest for Completeness of Vision for the second time (May 2026)Infobip named the number one Established Leader in the Juniper Research RCS for Business 2026 Leaderboard (Feb 2026) Infobip recognized as a growth and innovation leader in Frost Radar™: Communications Platform as a Service (CPaaS) by Frost & Sullivan (Oct 2025)Infobip ranked as the number one Established Leader in the Juniper Research Mobile Messaging Fraud Prevention Market report (Sept 2025)Infobip ranked as a Leader in the Omdia CPaaS Universe Report for the third time (April 2025)Infobip ranked an Established Leader in the Juniper Research Conversational AI Leaderboard (Feb 2025)Infobip named a CPaaS Leader for the third time in the IDC MarketScape (Feb 2025)Infobip named one of the top CPaaS providers in Metrigy’s CPaaS MetriRank Report (Dec 2024) Infobip recognized as the number one provider in the AIT Fraud Prevention market by Juniper Research (Oct 2024)

 

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Brown Health Medical Group-MA Data Breach Alert: Edelson Lechtzin LLP Investigates Class Action Claims

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National data breach law firm offering free case evaluations to individuals whose Social Security numbers, financial account information, government-issued IDs, and health records may have been exposed in the Brown Health Medical Group-MA data breach.

NEWTOWN, Pa., July 20, 2026 /PRNewswire/ — Edelson Lechtzin LLP, a national class action law firm, is investigating data privacy claims arising from the Brown Health Medical Group-MA data breach, a cybersecurity incident that exposed the sensitive personal, financial, and health information of hundreds of thousands of patients. Lifespan Physician Group of Massachusetts, Inc., which does business as Brown Health Medical Group-MA, reported the breach to the Vermont Attorney General’s Office on July 16, 2026.

What Happened

According to a report filed with the Vermont Attorney General’s Office on July 16, 2026, Lifespan Physician Group of Massachusetts, Inc., doing business as Brown Health Medical Group-MA, experienced a data breach that may have exposed sensitive personal, financial, and health information entrusted to it by its patients. The incident affected at least 290,357 residents of Massachusetts and 86 residents of Vermont. Brown Health Medical Group-MA has not publicly disclosed the total number of individuals affected across all states.

Information Exposed

The Brown Health Medical Group-MA data breach may have compromised a broad range of sensitive personal, financial, and health information. According to the notice filed with the Vermont Attorney General, the exposed data may include Social Security numbers, financial account codes, credit and debit account information, government-issued identification numbers, driver’s license numbers, and health and medical records.

Who May Be Impacted

Individuals who are notified that their information was involved in the Brown Health Medical Group-MA data breach — including patients of Brown Health Medical Group-MA and its affiliated physician practices — may face an increased risk of identity theft, financial fraud, and medical identity theft.

Your Legal Options

Edelson Lechtzin LLP is investigating a potential class action to pursue legal remedies on behalf of individuals whose sensitive personal, financial, and health information may have been compromised in the Brown Health Medical Group-MA data breach. Through such an action, affected individuals may be able to recover compensation for loss of privacy, time spent responding to the breach, out-of-pocket costs, and other harms. 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 your account statements, credit reports, and any explanation-of-benefits statements from your health insurer regularly, and remain vigilant for suspicious activity. If Brown Health Medical Group-MA offered you complimentary credit monitoring or identity protection services, consider enrolling before any deadline stated in your 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 or a security freeze on your credit, and consider requesting an IRS Identity Protection PIN to guard against tax-related fraud.

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.

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