Takadao Raises $1.5 Million Seed, Fueling Shariah-Compliant Web3 Finance Expansion to $3.1 Million Total Funding
Saudi Arabia-based fintech innovator, Takadao, has successfully closed a US$1.5 million seed funding round, pushing its total capital raised to an impressive US$3.1 million. This significant investment underscores growing confidence in Takadao’s unique approach to bankless financial alternatives within a community-owned Web3 ecosystem. Founded in 2022 by Sharene Lee and Morrad Irsane, Takadao is pioneering Shariah-compliant blockchain-based services designed to empower users with ethical and transparent financial tools.
Innovating Bankless Financial Solutions with Global Backing
The recently concluded seed round saw robust participation from a diverse group of international investors, reflecting Takadao’s global ambition and appeal. Key participants included Hasan VC from Malaysia, France’s Syla Invest, Wahed Ventures based in the UK, Ice Blue Fund from Japan, Istari Ventures from the US, and Saudi Arabia’s Adverse. Notably, Silicon Valley’s Draper Associates also provided follow-on funding, reaffirming their belief in Takadao’s vision. Takadao stands out by offering two core Shariah-compliant blockchain-based services: a robust system for savings and loans, and a cooperative life insurance model. These offerings provide an alternative to traditional banking by leveraging Web3 technology to create a transparent, community-governed financial platform. The newly secured funds are strategically earmarked to accelerate Takadao’s expansion into markets where it has already established traction, specifically targeting growth in Southeast Asia, France, the United Kingdom, and the United States, thereby extending its reach and impact across key global regions.
This capital injection positions Takadao to scale its operations and enhance its platform, solidifying its role as a frontrunner in the convergence of ethical finance, blockchain technology, and the Web3 paradigm. With this strengthened financial backing, Takadao is well-prepared to further its mission of delivering accessible, Shariah-compliant financial solutions to a broader global audience, fostering a truly inclusive and community-driven financial ecosystem.
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