Mike Cagney’s Navra raises $19M Series A led by Ribbit Capital
The AI-native blockchain access platform names Figure as its first partner ahead of a limited rollout planned for late October
Mike Cagney is back with another company. Navra, his Las Vegas-based startup, has closed a $19 million Series A led by Ribbit Capital.
The pitch is simple to say and hard to build. Navra wants to be one AI-native screen that lets retail investors and institutions reach many blockchain venues, either directly or through white-label partners.
The round closed on October 6, 2026. The company is already lining up its first users, with a limited rollout planned for late October.
Who wrote the checks
Ribbit Capital led the raise. Baseline, DCM, Jump Crypto, and Figure Technology Solutions also participated, alongside other strategic backers.
Navra says the new capital will go toward expanding its AI infrastructure. It also plans to build out the platform’s features to pull in more customers and partners.
The product targets two very different audiences at once. Retail users want something that feels like an app. Institutions want controls, compliance, and someone to call when things break.
Navra’s answer is a single interface that can sit in front of multiple blockchain venues. That white-label piece matters. It means a financial firm could offer blockchain access under its own name without building the underlying system from scratch.
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Figure goes first
Navra has named Figure Technology Solutions as its first blockchain partner. The integration will bring in Figure’s Democratized Prime yield protocol and the YLDS stablecoin.
YLDS is recognized as the first SEC-registered yielding stablecoin. It is a dollar-pegged token that pays holders a return and carries a regulatory registration most stablecoins do not have.
Figure brings scale to the partnership. Its ecosystem generates over $2 billion in real-world assets on the blockchain each month.
The connection between the two companies runs deeper than a partnership agreement. Cagney co-founded Figure, and before that he co-founded SoFi, the consumer finance company.
The rollout is staged. Navra expects to open the platform to a select group of retail and institutional design partners by late October 2026, with white-label access expected soon after.
Navra plans to refine the platform with this cohort before any public launch.
Cagney has framed the opportunity in large terms. He claims blockchain DeFi protocols will disrupt the $6 trillion asset-based finance market.
Cagney has pointed to three problems standing in the way: user experience, custody, and enterprise control. Those are the friction points that keep many investors and institutions away from DeFi today.