Riyadh / Singapore: Takadao, the Web3 platform behind bankless financial alternatives, has announced the close of its US$1.5 million seed round, bringing its total funding raised to US$3.1 million. The round saw participation from global investors including Hasan VC (Malaysia), Syla Invest (France), Wahed Ventures (UK), Ice Blue Fund (Japan), Istari Ventures (US), Adverse (Saudi Arabia), along with follow-on investment from Draper Associates in Silicon Valley.
The funding coincides with the launch of The LifeCard, a prepaid VISA card that enables users to spend stablecoins like cash anywhere VISA is accepted. The LifeCard operates under The LifeDAO, a community-owned Nobank powered by the Takadao protocol.
According to the company, the seed round strategically focused on investors aligned with Takadao’s community-centric and shariah-compliant mission.
“Hasan VC is led by Umar Munshi, a pioneer in the Islamic fintech space… Syla Invest has been making waves among the Francophone Muslim community… Wahed Ventures is an established name among Muslim investors in the UK and US,” said Morrad Irsane, CEO of Takadao. “We wanted to raise from them to tap markets where we already have significant traction.”
The LifeDAO Ecosystem
Takadao’s protocol powers The LifeDAO, a community-owned Nobank designed to give members full control over their finances. Members gain access to a DeFi wallet, a life protection fund, non-custodial investment pools, and a networking and financial literacy hub. All funds deposited into The LifeDAO’s protocols remain user-owned and non-custodial, with surplus redistributed back to members. The LifeDAO currently reports US$1 million in total value locked (TVL) across its affiliated funds.
Introducing The LifeCard
The LifeCard is positioned as a cornerstone product within The LifeDAO ecosystem, enabling seamless real-world use of stablecoins, including earnings generated from participation in The LifeDAO.
“Members receive life protection payouts, investment returns, referral earnings and revenue share in stablecoins that they can now spend like cash with The LifeCard,” said Sharene Lee, co-founder and COO. “It’s a tangible bridge between the Web3 world and the real world.”
Key features of The LifeCard include:
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Profit sharing: Card fee profits redistributed among LifeDAO members.
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Round-ups: Automatic saving and investing through transaction round-ups.
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0% interest microloans: Eligibility based on members’ historical top-up activity.
“While designing the product, we wanted to maximize value for The LifeDAO ecosystem and for individual members,” added Irsane. “Profit sharing was a natural extension. Halal ways to grow wealth are in high demand, so auto-save features make sense. And the 0% interest microloan reflects our mission of helping and protecting the community.”
With fresh capital and the launch of its flagship LifeCard, Takadao aims to further expand its Web3-based, shariah-aligned financial ecosystem across global markets.
