Watch our Co-Founder, @mcagney, introduce Navra on @business for the first time today and discuss where the future of finance is heading.
https://t.co/ACj6TeIDdd
Congratulations to @HelloNavra and @MCagney on their Series A, led by @RibbitCapital.
Weβre proud to support their vision of making the onchain economy more accessible to traditional finance by bringing institutional-grade financial products and access onchain.
We're excited to announce Navra's successful Series A, led by @RibbitCapital
Thank you to our investors Jump , DCM, DST Global Partners, Faction, Baseline Ventures, DA, Distributed Global, Blockchange, RPM Ventures, Morgan Creek Digital, Figure and others who believe in what we're building. π§΅
Proud of our founder @mcagney and the entire @HelloNavra team on their Series A announcement. Weβre excited about Navraβs role in bringing more institutional capital on-chain to help fund the tokenized assets our marketplace is producing while strengthening the broader blockchain ecosystem.
THE BLOCK: Navra, a fintech startup led by SoFi and Figure co-founder Mike Cagney, has raised $19 million in an oversubscribed Series A round led by Ribbit Capital, with participation from Baseline, DCM, Jump Crypto and Figure Technology Solutions.
Navra said it plans a limited rollout to retail and institutional customers in late October, with Figure as its first blockchain partner and white-label offerings to follow.
Today we officially announce the launch of @HelloNavra. Our goal is to bring retail and institutional TradFi dollars over to DeFi by delivering better user experience, keyless self custody and enterprise control. The dollars will flow into products like @Figure's Democratized Prime, but also into other DeFi lending, borrowing and trading platforms.
Thank you to @RibbitCapital for leading this oversubscribed round!
I'm still performing my Figure duties as executive chairman and am excited about the synergies between the two companies. Figure joins @jump_ as first strategic partners.
https://t.co/H34BkO01V3
4/ We're building on blockchain infrastructure our friends at Figure have proven at scale, with a team that has reshaped modern finance before.
Navra is the bridge between traditional finance and the onchain economy. We're making powerful financial products as simple and trusted as the apps people already use.
- Mike Cagney, Co-Founder & CEO
This isn't about shifting market share. It's about creating a whole new category.
Right now, blockchain is just a pond, while traditional finance is the ocean. The real opportunity is building the channel that lets the ocean flow in.
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Read @mcagney full manifesto here:
https://t.co/RMn2wC9lsw
DeFi offers a better way to finance real-world assets, but most institutional capital still can't access it.β
The Wallet Co aims to solve this problem by creating a bridge that brings traditional finance capital on-chain, removing the usual barriers.β
Here's why we believe this approach works.
Neither option works for large-scale capital. That's why we're building a third choice: the bridge.
βYou get custody and can choose your own venue, all through a familiar interface with the support traditional finance expects.
Enjoy qualified custody without giving up control, curated and vetted venues, a KYC passport, real banking connections, and a team you can contact.