## KEY TAKEAWAYS
- Navra, a fintech company co-founded by Mike Cagney (co-founder of SoFi and Figure), closed an oversubscribed $19 million Series A round led by Ribbit Capital, with participation from Baseline, DCM, Jump Crypto and Figure Technology Solutions.
- Navra is building a single interface giving retail and institutional users access to multiple blockchain venues, including DeFi yield protocols and cash rails, with keyless self-custody designed to meet qualified custody requirements.
- Figure is Navra's first blockchain partner; Navra has integrated Figure's Democratized Prime yield protocol and YLDS, described as the first SEC-registered yielding stablecoin.
- Proceeds will fund AI infrastructure, platform expansion, and customer and partner acquisition; a limited rollout to retail and institutions begins in late October 2026.
## DETAILED SUMMARY
Navra, a financial technology company led by Figure and SoFi co-founder Mike Cagney, has closed an oversubscribed $19 million Series A funding round led by Ribbit Capital, according to a Business Wire announcement. Baseline and DCM, founding Figure investors, also participated, alongside strategic investors Jump Crypto and Figure Technology Solutions.
The company positions itself as a bridge between traditional finance and blockchain. Its desktop and mobile application provides a single interface to curated on-chain venues, offering direct access to DeFi yield protocols and cash rails through keyless self-custody that the company says satisfies qualified custody requirements. An embedded AI agent supports users. For institutions, Navra offers enterprise wallet management with role-based controls, full audit trails, and integration with fund accounting and administrators. The same platform is available for white-label partners as a complete app or as embeddable modules.
Cagney, Navra's co-founder and CEO, argued that DeFi protocols are the best foundation for the $6 trillion asset-based finance market, but that the bulk of those dollars has not yet migrated on-chain. He cited user experience, keyless qualified custody and enterprise control as the three obstacles Navra aims to resolve.
Figure is Navra's first blockchain partner. Navra has integrated Figure's Democratized Prime yield protocol and YLDS, which Figure describes as the first SEC-registered yielding stablecoin, and the two firms are collaborating on bringing Figure's trading markets into the Navra solution. Figure CEO Michael Tannenbaum said Figure's ecosystem is putting more than $2 billion a month of real-world assets on blockchain. Navra is an AI-native company, and proceeds will go to AI infrastructure, platform expansion, and customer and partner acquisition. A limited rollout to retail and institutions begins in late October, with waitlist access available at navra.com.
