When I want to know about banking and finance I come to Refi Review - Reader
January 23, 2024

Funding flutters to Saudi Fintech: Takadao teams with Adaverse.

Saudi fintech startup Takadao has secured an undisclosed investment from Adaverse, a Cardano ecosystem accelerator and seed fund, to support the launch of its product Takasure in June 2024. Takadao is a decentralized finance platform that offers secure, community-driven financial solutions using blockchain technology. Its products include Takaturn, a savings and yield generation platform, and Takasure, a cooperative life insurance DAO. The funding from Adaverse will help Takadao enhance its transparency, reduce costs, and offer halal insurance solutions to a diverse global audience. With over 17,000 members, Takadao has a patent pending on its actuarial and risk management algorithms. The startup previously raised $1.6 million in a pre-seed round led by Silicon Valley investor Tim Draper. Adaverse plans to invest $10 million in local Web3 startups in 2024 and supports the growth of its portfolio companies by providing product strategies and connecting them with leading Web3 investors for future fundraising opportunities.