Navra, a startup building a single interface to on-chain financial venues, has raised a $19 million Series A led by Ribbit Capital in an oversubscribed round, as it prepares a limited rollout for retail and institutional users in late October.
According to the Business Wire announcement, Baseline, DCM, Jump Crypto and Figure Technology Solutions also invested. The proceeds will be used to build AI infrastructure, expand the platform, and acquire customers and partners.
Navra offers desktop and mobile apps with access to on-chain yield protocols and cash rails, plus a built-in AI agent. The company says its keyless self-custody meets qualified-custody requirements, a claim that has not been independently verified. Institutions get enterprise wallet management with role-based controls, audit trails and integration with fund accounting and administrators.
Figure is Navra's first blockchain partner. The integration covers Figure's Democratized Prime yield protocol and YLDS, its SEC-registered yielding stablecoin, with trading markets to follow. Figure says it processes more than $2 billion a month in real-world assets on-chain. That figure describes Figure's activity, not Navra's. Navra has disclosed no client balances or transaction volume.
A white-label version, either as a complete app or as embeddable modules, is planned shortly after the late-October launch.
Mike Cagney, the company's founder, said three obstacles have held back institutional migration to blockchain: user experience, keyless qualified custody and enterprise controls. Figure chief executive Michael Tannenbaum said Navra can play a critical role in bringing dollars on-chain, both to Figure's protocols and to the broader ecosystem.
The company is pre-launch, so the round is a bet on distribution rather than on traction. Its test will be whether institutions adopt a front end that sits across venues rather than going to each protocol directly.