Takadao, a KSA-based Web3 fintech platform, has strengthened its position in ethical and community-driven finance with a new funding milestone and product launch. The company has closed an additional seed round, bringing its total funding to $3.1 million. At the same time, it is expanding its ecosystem with tools that aim to give users more direct control over their money.
Funding Round and Investor Base
The latest $1.5 million seed round attracted a diverse group of international backers with experience across Islamic finance, blockchain, and crypto investing. Participants include Hasan VC, Syla Invest, Wahed Ventures, Ice Blue Fund, Istari Ventures, and Adverse, alongside follow-on capital from Silicon Valley firm Draper Associates. Their involvement adds strategic reach across regions such as Southeast Asia, Europe, the United Kingdom, Japan, the United States, and Saudi Arabia.
Community-Owned LifeDAO and Nobank Model
Founded in Singapore in 2022 by husband-and-wife team Morrad Irsane and Sharene Lee, Takadao is building an alternative to traditional banking through its community-owned ecosystem, The LifeDAO. The protocol is designed as a “nobank,” where funds are held in non-custodial wallets rather than with an intermediary institution. Members retain ownership and control of their assets while participating in a shared financial infrastructure.
Product Suite and User Control
Through The LifeDAO, users can access decentralized finance wallets, a life protection fund, and non-custodial investment pools. The ecosystem also includes a members’ hub focused on networking, Web3 education, and financial literacy to help users better understand and manage their finances. Surplus generated from operations within the protocol is redistributed among members, reinforcing the cooperative nature of the platform.
Launch of The LifeCard
Alongside the funding, Takadao has launched The LifeCard, a prepaid credit card powered by Visa and operated under The LifeDAO. The card enables users to spend stablecoins as easily as cash wherever Visa is accepted, bridging on-chain balances with everyday transactions. It is integrated with The LifeDAO wallet and a non-custodial savings vault that allows deposits in stablecoins and access to a Sharia-compliant yield in the range of four to seven percent annual percentage yield.
Differentiation from Traditional and Exchange-Based Cards
According to Lee, deposits in The LifeDAO savings vault remain under user control, without needing approval from a bank or centralized platform to move funds. This structure is intended for individuals seeking high-quality financial services without going through traditional banks or centralized exchanges. The LifeCard is positioned as a community-owned product, where revenue from card fees accrues to The LifeDAO community fund and surplus is shared back with members.
Community Governance and Global Vision
Takadao’s model relies heavily on community ownership and governance, which the company views as a driver of engagement and growth. The LifeDAO community is described as seeing the project as a broader movement toward more people-centric financial systems, rather than a standalone product. For the founding team, the goal is to address distrust in traditional financial institutions by offering transparent, rules-based tools that are built around everyday users.
With fresh capital, a growing base of international investors, and the rollout of The LifeCard, Takadao is advancing its effort to build a decentralized, community-owned financial ecosystem. The combination of non-custodial wallets, cooperative savings, and a globally available prepaid card positions the company to serve users who want more control over their money. As it scales across markets, Takadao will be tested on its ability to turn its vision of bankless, ethical finance into a practical alternative for mainstream users.