Crypto startup Fomo has successfully closed a funding round with backing from major industry investors, including Index Ventures. We break down what’s known about the social trading app for crypto users.
Crypto startup Fomo, which offers a social platform for trading and token discovery, has closed a $75M Series B round at a $550M valuation. The round was led by Index Ventures, with participation from Union Square Ventures and Benchmark, which invested in the previous round. Angel investors included Zynga co-founder Mark Pincus, Discord CEO Humam Sakhnini, and Eventbrite co-founder Kevin Hartz.
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Fomo was founded in 2025 by former dYdX team members Paul Erlangher, Sae Young Park, and Prashan Dharmasena. The app lets users trade assets across multiple blockchains without manually managing bridges or gas fees. It is non-custodial, which the founders say provides regulatory flexibility.
Since launching a year ago, the platform has attracted more than 625K traders, generated $4B in trading volume, and recorded 110 million social interactions.
Why Investors Bet on Fomo
Fomo compresses the crypto onboarding process to about 30 seconds and supports more assets than Coinbase–without needing to switch between bridges and gas tokens. The key feature is a social feed where traders can see others’ trades in real time and copy them. Delphi Digital noted that social features help attract users by making trading “feel more like scrolling a feed than sitting at a terminal.”
More than 68K users made their first crypto purchase on the platform through Apple Pay, accounting for about $25M in transaction volume. In June, Fomo launched perpetual futures contracts on Hyperliquid for users outside the US.
The company has just 17 employees while onboarding roughly 3,500 new users per day.
Read more: How AI Agents Trade Crypto — Autonomous Trading Bots Explained
Crypto Market Attention Shifts to Retail Infrastructure
Fomo’s round is part of a sustained trend of venture capital flowing into crypto infrastructure–even when digital asset prices are low. According to RootData, crypto startups raised $4.1B across 147 rounds in the second quarter of 2026. Index Ventures’ participation, a non-specialist crypto investor, signals that mainstream VCs see a structural shift in consumer blockchain trading.
Long-term, the company aims to become a gateway to tokenized stocks, derivatives, and other on-chain assets as that market grows. For the broader market, it’s a signal that infrastructure projects simplifying access and making trading more social are in rising demand.
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