A shariah compliant alternative to conventional insurance, Takadao uses cutting edge technology to provide insurance products that are efficient, safe and accessible around the world.

We are really pleased to have secured an exclusive $250,000 allocation at a post-money valuation of $9.5m.

Although Takadao are already well capitalised, they recognised the value that Wahed Ventures and its investors provide in the Islamic finance space.

Significant Market Opportunity

Although Muslims account for 1/4 of the worlds population, Takaful - the current Islamic insurance option accounts for less than 0.5% of the $10 trillion industry.

VC Backed

Backed by Tim Draper, the early investor in Tesla, Hotmail and Skype, Takadao have built strong shareholding presence that will provide long-term support for growth.

Strong Growth

In a short period of time, Takadao have already amassed 13,000 users, and are achieving double digit growth month on month, underlining the demand for a technology first Takaful solution.

Problem Statement

40% of the world's population are under insured. Takaful, the current Islamic alternative is expensive, inaccessible creating further financial equality.

Based on interest, excessive uncertainty and speculation, the current Insurance model is not fit for the Muslim appetite.

Current Islamic insurance options are expensive, difficult to access resulting in extremely low penetration

Existing centralized financial infrastructure is time consuming to set up resulting in large uninsured populations

The Solution

Leveraging the principles of equity in Islamic finance, Takadao builds technologies that foster an inclusive model of insurance that are community owned, creating accessibility and sustainability.

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Key Products

Insurance begins as savings. Takaturn is a savings and yield generation platform that is a precursor to Takadao’s flagship product, Takasure. Takaturn is based on the concept of chit funds and allows participants to grow their savings while having access to credit on a scheduled basis, avoiding debt and interest.

Takasure is a community-owned life insurance platform. Based on the model of Takaful, participants pool their funds to mutually insure one another and profit from insurance operations, which are overseen by Takadao. Takasure manages risk through an underwriting and actuarial algorithm developed by Takadao for which there is a patent pending (U.S Patent Office USSN 63/547,997).

<0.5%

of the global insurance industry is represented by Takaful.

15%

compound annual growth in the demand for Takaful.

25%

of the world’s population are Muslim.

Addressable Market

Many Insurtech solutions are focussed on creating efficiencies in the existing infrastructure, without creating disruption. The advent of blockchain technology has made it possible to build without this infrastructure and create solutions which can transform the status quo.

In the Muslim world alone, the statistics underline the appetite for Takaful and the need for a more inclusive and accessible model that can tackle the $10 trillion insurance industry.

Notable Investors

Takadao completed a $1.6m pre-seed round in September 2023 led by Silicon Valley VC, Draper Associates.

Drapers’ previous investments in Skype, Tesla and Hotmail reflect an ability to spot opportunities which shift consumer behavior and society. The round was also supported by BIM, Core Vision Ventures.