SoFi Co-Founder Mike Cagney Raises $19 Million For New On-Chain Finance Startup
Summary
Navra, led by SoFi and Figure co-founder Mike Cagney, raised $19 million in an oversubscribed Series A led by Ribbit, with participation from Baseline, DCM, Jump Crypto and Figure Technology Solutions. The startup is developing a desktop and mobile interface for accessing on-chain lending, yield products and securities across multiple blockchain venues. It aims to simplify access for traditional investors and institutions, with cash rails and a self-custody model designed to avoid direct private-key management. The funding will support the platform’s development.
