Saudi Arabia–based Takadao, a Riyadh- and Singapore-headquartered Web3 platform offering bankless financial alternatives, has reached a total funding of $3.1 million following the completion of its $1.5 million seed round. The round attracted an international group of 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 participation from Draper Associates of Silicon Valley. Cardano was among the company’s earliest backers.
In parallel, Takadao announced the launch of The LifeCard, a prepaid VISA card that enables users to spend stablecoins like cash anywhere VISA is accepted. The card operates under The LifeDAO, a Community-Owned Nobank powered entirely by the Takadao protocol.
Morrad Irsane, CEO of Takadao, said:
“Hasan VC is led by Umar Munshi… We wanted to raise from them in order to tap into these markets where we already have significant traction.”
The Takadao protocol forms the backbone of The LifeDAO, empowering members to be their own bank through a combination of DeFi wallets, life protection funds, non-custodial investment pools, and a members’ hub dedicated to networking and financial education centered on Web3 and digital literacy. All deposited funds remain fully owned and controlled by users, with neither The LifeDAO nor Takadao having custody over them. Surpluses generated through operations are redistributed to members. The LifeDAO currently maintains $1 million in total value locked across its affiliated funds.
The LifeCard is positioned as the flagship product of The LifeDAO ecosystem and provides members with the ability to spend their crypto earnings—including those generated through participation in The LifeDAO—in their daily lives.
Sharene Lee, co-founder and COO, stated:
“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…”
The card introduces several market-first features, such as redistributing card fee profits back to The LifeDAO members, automatic savings and investment through round-ups, and a 0% interest microloan available to members based on their card top-up history.
Morrad Irsane added:
“And finally, The LifeDAO is a community that helps and protects, hence the 0% interest microloan is there for people when they need it most.”
