• Takadao raises USD 1.5M in seed round with global investors, bringing total funding to USD 3.1M.
• The LifeDAO, Takadao’s community-owned nobank, offers Sharia-compliant DeFi wallets, investment pools, life protection, and Web3 education for members.
• LifeCard, a prepaid Visa card, lets members spend stablecoins, earn profits, save automatically, and access 0% interest microloans.

Takadao

Based in Saudi and Singapore, Takadao raised USD 1.5 million in a seed funding round. The round saw participation from Hasan VC, Syla Invest, Wahed Ventures, Ice Blue Fund, Istari Ventures, and Adverse. It also saw follow-on funding from Draper Associates of Silicon Valley. 

Founded in 2022 in Singapore by Morrad Irsane and Sharene Lee, Takadao is a fintech, Web3 platform for bankless financial alternatives. Its protocol powers The LifeDAO, a community-owned nobank. It provides decentralized, Sharia-compliant financial alternatives. 

Through The LifeDAO, members can access DeFi wallets, a life protection fund, and non-custodial investment pools. They also gain entry to a members’ hub for networking, Web3 education, and financial literacy. Funds deposited into these protocols remain fully owned and controlled by users, while any surplus from operations is shared back with the community.

LifeCard

The latest product in TheLifeDAO ecosystem is the LifeCard which is a prepaid credit card powered by Visa. This new card allows users to spend stablecoins like cash. Furthemore, it extends the fintech’s mission to give people direct control over their money through non-custodial tools and community governance

“Members receive life protection payouts, pooled investment returns, referral earnings and revenue share in stablecoins that they can now spend like cash with The LifeCard. It’s a tangible link between the Web3 world and the real world and is really important in rounding out the ecosystem, “ said Sharene Lee, co-founder and COO of Takadao.

The profits generated from the card fees are redistributed among The LifeDAO members. Additionally, round-ups enable members to save and invest automatically with every transaction. Moreover, a 0% interest microloan is available to members based on the history of their card top-ups.