AI · Bitcoinist
SoFi Co-Founder Mike Cagney Raises $19 Million For New On-Chain Finance Startup
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TL;DR: Navra, the latest company led by SoFi and Figure co-founder Mike Cagney, has raised $19 million in Series A funding.
Key facts
- TL;DR: Navra, the latest company led by SoFi and Figure co-founder Mike Cagney, has raised $19 million in Series A funding
- 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
- The $19 million round is modest compared with the largest crypto fundraises of previous cycles, but that may fit the current stage of the market
- Baseline and DCM also participated alongside strategic investors including Jump Crypto and Figure Technology Solutions
Summary
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.