Takadao raises new investment from Adaverse

Takadao raises new investment from Adaverse

Saudi Arabia-based fintech Takadao has raised an undisclosed investment from Adaverse.

Founded in 2022 by Sharene Lee and Morrad Irsane, Takadao offers its users two Shariah-compliant blockchain-based services, savings and loans and cooperative life insurance.

The new investment will help Takadao launch its product, Takasure, in June 2024. 

In October last year, Takadao raised a $1.6 million pre-Seed round, led by Silicon Valley-based investor Tim Draper, along with BIM, Core Vision Ventures, and Prince Sultan bin Fahad bin Salman Al Saud.

Press release:

Adaverse, a Cardano ecosystem accelerator and seed fund with a focus on scaling Web3 solutions, announces its first strategic investment in Saudi Arabia’s Takadao, marking the companies’ commitment to the pursuit of Vision 2030. Takadao, a revolutionary force in the financial industry, introduces community-owned financial services, challenging traditional financial paradigms with its innovative approach.

Adaverse is a leading early-stage investor and builder in the Web3 sphere, boasting 60 investments across 13 nations from around the world. Adaverse, an initiative by EMURGO, the renowned global blockchain technology firm and a founding member of the Cardano blockchain platform, is on a mission to build a global community of entrepreneurs solving the world’s challenges with blockchain technology.

Excited about Vision 2030 and Saudi Arabia’s openness to innovation