SoFi Co-Founder Mike Cagney Raises $19 Million For New On-Chain Finance Startup

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TL;DR: Navra, the latest company led by SoFi and Figure co-founder Mike Cagney, has raised $19 million in Series A funding. The startup is building an interface intended to make on-chain lending, yield products and securities markets easier for traditional investors and institutions to access. Mike Cagney is building another bridge between conventional finance and blockchains. Navra, the newest startup led by the SoFi and Figure co-founder, has raised $19 million in an oversubscribed Series A round led by Ribbit. Baseline and DCM also participated alongside strategic investors including Jump Crypto and Figure Technology Solutions. The capital will support a platform designed to make blockchain-based financial markets easier to use without requiring customers to interact with the underlying infrastructure in the way experienced DeFi users normally would. Navra plans to provide access to multiple blockchain venues through a single desktop and mobile interface. The product is expected to include on-chain yield opportunities and cash rails alongside a self-custody model that avoids conve...