Navra Secures $19 Million to Build Fintech Blockchain Platform

Navra, a fintech startup, has successfully raised $19 million in a Series A funding round led by Ribbit. The company aims to develop a platform that bridges traditional financial institutions and retail investors with blockchain-based financial products. The round also included contributions from founding Figure investors Baseline and DCM, along with strategic investors Jump Crypto and Figure Technology Solutions.

The company, led by co-founder and CEO Mike Cagney, is building a desktop and mobile platform that offers access to multiple blockchain venues through a single interface. The platform will provide onchain access to yield protocols and cash rails with keyless self-custody designed to meet qualified custody requirements. An embedded AI agent will also assist users. For institutional customers, Navra is developing features for managing teams with audit trails and integrations with fund accounting platforms.

Navra plans to use the Series A proceeds to build its AI infrastructure, expand the platform, and increase customer and partner acquisition. The company is currently working with design partners and plans a limited rollout to retail and institutional customers in late October. White-label versions and embeddable modules are expected to follow.

Figure has been named Navra’s first blockchain partner. The companies are integrating Figure’s Democratized Prime yield protocol and YLDS, described as the first SEC-registered yielding stablecoin. Navra and Figure are also working to integrate Figure’s trading markets into the platform. Figure currently places more than $2 billion of real-world assets on blockchain each month.