Triple Point provides £75m Shariah-compliant facility for Ayan Capital
The facility will refinance an existing lender and fund new business as the company expands.
Triple Point has arranged a senior Shariah-compliant ijara-based facility of up to £75m for Ayan Capital.
The facility will refinance an existing lender and fund new business as the company expands.
It was also expected to reduce Ayan Capital’s funding costs.
Ellis Diamanti (pictured), head of specialty finance at Triple Point, said: “Ayan pairs an impressive management team with a technology-first platform, providing an excellent customer experience while meeting the growing appetite for Shariah-compliant financial products.
“We are delighted to support Ayan into its next stage of growth, and congratulations to Anastasia Chernoyarova, Director in our Specialty Finance team, who led the transaction through to completion.”
Abdullo Kurbanov, chief executive officer and co-founder at Ayan Capital, said: “From our first conversation, Triple Point felt like partners on the same side of the table.
“This facility lowers our cost of funding, which means more competitive pricing for eligible customers.
“It funds the launch of AyanCare, where we take enhanced repair responsibility for the vehicles we own.”
Kurbanov added: “And it builds the balance sheet, systems and governance that support our long-term ambition to seek authorisation as a UK bank, so we can offer genuinely better financial products across the board.”
Yifan Pu, chief financial officer at Ayan Capital, said: “This facility takes us off early-stage financing and onto institutional terms, which meant our book, our servicing and our reporting all had to stand up to a partner of this caliber.
“Passing that is worth nearly as much to us as the funding, because it’s the track record the next tier of funding markets wants to see.”
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