IT Park Ventures invests $1M in Ayan Capital's $4M round
What's the deal? IT Park VenturesDealroom has a profile for this one. Try Dealroom →, an Uzbekistan-based venture fund, has invested $1M in Ayan CapitalDealroom has a profile for this one. Try Dealroom →, a UK-based Islamic fintech startup, as part of a $4M early-stage equity round. International investors from the UK and Switzerland also participated.
Ayan Capital was founded by Abdullo Kurbanov, Firdavs Mirzoev, and Zuhursho Rahmatulloev — serial entrepreneurs who previously built Alif, one of Central Asia's largest fintech companies. Headquartered in London, Ayan offers fully digital halal vehicle financing through proprietary automated scoring and underwriting technology. It is licensed by the UK's Financial Conduct Authority (FCA).
The funds will go toward scaling the company, enhancing its tech stack, and expanding its engineering team in Uzbekistan.
Why now? Ayan Capital is positioning itself to evolve from a specialist Islamic vehicle financing provider into a full digital neobank in the UK. It has already announced plans to pursue a banking licence and is expanding its product line to include a payment platform (Ayan Pay), debit cards, Islamic savings accounts, and point-of-sale financing.
For IT Park Ventures, the deal fits a specific thesis: backing startups that compete in global markets while building engineering teams in Uzbekistan, feeding the country's growing tech talent pool.
"We invest first and foremost in teams capable of transforming entire industries," said Dalerkhon Nodirov, director of IT Park Ventures. "Supporting startups that build global businesses while developing strong teams in Uzbekistan is one of our key priorities."
What could go wrong? Obtaining a UK banking licence is a long, expensive process with no guarantee of success. Ayan Capital will also face stiff competition from established Islamic banks and a growing crop of digital challengers in the UK market. Scaling from niche vehicle financing to a broad neobank proposition requires significant capital beyond this $4M round.
The signal: Ayan Capital is classified as a "breakout stage" company on Dealroom, suggesting meaningful traction beyond a typical early-stage startup — notable for a niche Islamic fintech operating under FCA oversight. The round also underscores a growing pattern of Central Asian venture funds backing diaspora-led founders who can serve as bridges between emerging and developed markets, turning local engineering talent into a competitive advantage for globally oriented startups.
Read more: itparkventures.uz
