Navra Raises $19 Million Series A From Ribbit as Figure Co-Founder Takes on Blockchain Access

Moving real money onto blockchain rails is easy to promise and hard to deliver, mostly because ordinary investors and institutions still find the tools confusing. Navra, led by a founder who has built two financial companies, says it has an answer.

Navra, a Las Vegas fintech company led by SoFi and Figure co-founder Mike Cagney, closed an oversubscribed $19 million Series A led by Ribbit. Baseline and DCM, both early Figure investors, joined the round alongside strategic backers Jump Crypto and Figure Technology Solutions.

What the Product Does

Navra is building a desktop and mobile app that gives individuals and institutions a single interface to several blockchain venues. It offers direct on-chain access to yield protocols and cash rails, keyless self-custody that is designed to meet qualified custody requirements, and an embedded AI agent to help users. Institutions can manage teams with role-based controls, a full audit trail and links to fund accounting and administration systems. The same platform will also be offered to partners as a white label app or as embeddable modules.

The Figure Connection

Alongside the round, Navra named Figure as its first blockchain partner. It has integrated Figure's Democratized Prime yield protocol and YLDS, a yielding stablecoin registered with US regulators, and the two companies are working on bringing Figure's trading markets into the app. Figure's chief executive said its ecosystem is already moving more than $2 billion a month of real world assets onto blockchain, and that Navra could help carry more financing for those assets into the wider market. Cagney is also chairman of Figure's board.

What Happens Next

Navra is working with a group of design partners and plans a limited rollout to retail and institutional users in late October, with white label availability to follow shortly after. The company describes itself as AI native, using the technology across engineering, legal, finance and marketing, and says proceeds will go toward its AI infrastructure, platform expansion and customer and partner acquisition.

What This Means for Founders

For fintech founders, the round shows how much a repeat founder's investor network can matter: the investors who backed Cagney's previous company returned to lead a first institutional round, which usually means the company was able to raise quickly and on its own terms. It also shows the value of a strategic partner that is also an investor, since Figure supplies both capital and a ready-made distribution channel. If you are preparing a Series A, think about which existing relationships can lead or anchor the round, and be clear about what each strategic investor adds beyond money. Founders without a prior exit can still apply the lesson by building investor relationships well before they need to raise.

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