• Saudi Arabia-based fintech Takadao has raised $1.5 million in a seed round led by Hasan VC, Syla Invest, Wahed Ventures, Ice Blue Fund, Istari Ventures, Adverse, and Draper Associates, bringing total funding to $3.1 million.
• Founded in 2022 by Sharene Lee and Morrad Irsane, Takadao offers its users two Shariah-compliant blockchain-based services: savings and loans and cooperative life insurance.
• The funds support expansion across markets with established traction, such as Southeast Asia, France, the UK, and the US.

Press release:

Takadao, the Web3 platform offering bankless financial alternatives through a community-owned ecosystem, announced the close of its US$1.5 million seed round with participation from global investors including Hasan VC (Malaysia), Syla Invest (France), Wahed Ventures (UK), Ice Blue Fund (Japan), Istari Ventures (US), and Adverse (Saudi Arabia), along with follow-on funding from Draper Associates of Silicon Valley. This brings Takadao’s total funding to US$3.1 million.

Alongside the funding, Takadao unveiled The LifeCard, a prepaid VISA card enabling users to spend stablecoins like cash anywhere VISA is accepted. The LifeCard sits under The LifeDAO, a community-owned Nobank powered by the Takadao protocol.

The seed round was intentionally structured to attract investors aligned with Takadao’s mission and active in shariah-compliant and globally diverse markets.

“Hasan VC is led by Umar Munshi, a pioneer in Islamic fintech with deep roots in Southeast Asia. Syla Invest has been making waves among the Francophone Muslim community. Wahed Ventures is a recognised name in the UK and US. We targeted investors in markets where we already have strong traction,” said Morrad Irsane, CEO of Takadao.

The Takadao protocol powers The LifeDAO, giving members access to a DeFi wallet, a life protection fund, non-custodial investment pools, and a members’ hub for financial education. Funds deposited into these protocols remain fully user-owned, with operational surpluses redistributed to members. The LifeDAO currently holds US$1 million in total value locked across its affiliated funds.

The LifeCard is the latest addition, acting as a bridge between the Web3 ecosystem and everyday financial use.

“Members receive life protection payouts, investment returns, referral earnings, and revenue share in stablecoins—and can now spend them like cash using the LifeCard. It’s a tangible connection between the Web3 world and real life,” said Sharene Lee, co-founder and COO.

The LifeCard features profit redistribution from card fees, automatic round-up savings for micro-investing, and a 0% interest microloan for users based on historical top-ups.

“We designed the product around maximum value for our members,” added Irsane. “Profit sharing is core to The LifeDAO. Round-ups support halal wealth-building. And the 0% microloan reflects our mission to support members when they need it most.”