Mike Cagney's Navra brings in oversubscribed $19M Series A

Navra, the Las Vegas-based financial technology company led by Figure and SoFi co-founder Mike Cagney, has closed an oversubscribed $19 million Series A round.

Ribbit led the round, according to the company, alongside other founding Figure investors including Baseline and DCM. The raise also drew a group of strategic investors, among them Jump Crypto and Figure Technology Solutions.

The startup positions itself as the bridge between traditional finance and blockchain. Its mobile and desktop app gives individuals and institutions a single interface to curated on-chain venues, offering access to DeFi yield, new trading markets, an embedded AI agent and keyless self-custody.

For institutional users, the platform layers on enterprise wallet management with role-based controls, qualified custody, full audit trails and data-integration with administration and accounting systems — the compliance scaffolding that desks typically require before moving assets on-chain. The same underlying platform powers white label offerings for partners, delivered either as standalone modules or as a complete app.

Navra was started by Cagney, whose prior ventures include SoFi and Figure, and is headquartered in Las Vegas.

The investor roster is notable for its overlap with Figure, the blockchain-focused lending and technology company Cagney also co-founded. Ribbit, Baseline and DCM all appear among Figure's founding backers, and Figure Technology Solutions appears on the strategic side of Navra's round. That alignment suggests Navra is being built with the blessing — and capital — of the same network that backed Cagney's earlier effort to move traditional financial products onto blockchain rails.

The round arrives as crypto-native trading and yield products continue to court institutional balance sheets, a market where custody, permissioning and auditability are frequently the gating factors rather than access to venues themselves. Navra's pitch pairs consumer-facing simplicity with the controls institutions say they need, betting that the same stack can serve retail users, professional desks and white-label partners at once.

A Series A of this size, and one that closed oversubscribed, gives the company runway as it builds out that dual retail-and-institutional offering.