Crypto Trading Simplified
Crypto Social Trading App Fomo Raises $75M Series B, Valued at $550M
Anonymous
Key Points
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Fomo co-founder Paul Erlanger told Fortune that the company is built around a blunt assessment of the status quo: “Onchain trading is just impossible.”
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An Index Ventures partner, Julia Andre, said the firm backed Fomo not “simply as ‘a crypto business,’” but because it saw a broader “market shift” in consumer on-chain trading.
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Fomo claims its onboarding can take “roughly 30 seconds, regardless of a user's familiarity with digital assets,” and it also describes “one-click access” with Apple Pay integration to reduce entry friction.
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Fortune reported Fomo is onboarding about “3,500 new users per day” and has “17 employees,” underscoring how early-stage headcount is relative to the rapid user-growth claim.
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Before the Series B, Fomo had already raised a $17 million Series A led by Benchmark (reported as completed in November 2025), following a May 2025 app launch.
Crypto trading app Fomo has raised $75 million in a Series B round led by Index Ventures, valuing the company at $550 million. The round also drew participation from Union Square Ventures and angel investors including Zynga founder Mark Pincus, former King executive Humam Sakhnini, and Eventbrite co-founder Kevin Hartz, according to Fortune.
The raise comes as retail interest in digital assets shows signs of recovery, with Bitcoin prices stabilizing and search activity for crypto trading ticking upward. Fomo, founded by former dYdX executives, says it is onboarding roughly 3,500 new users per day — all with a team of just 17 employees, FinSMEs reported.
Founders Built Fomo to Fix 'Impossible' On-Chain Trading
Fomo launched in May 2025 with a simple thesis: trading on a blockchain is too hard for most people. Co-founder Paul Erlanger, a former dYdX executive, was direct about it. "Onchain trading is just impossible," Erlanger told Fortune. The app aims to make the underlying blockchain technology invisible to the user.
Fomo claims its onboarding takes roughly 30 seconds, regardless of a user's prior crypto experience. It offers one-click access through Apple Pay integration, cutting out the multi-day bank transfer waits that slow down rival platforms. The app runs on a non-custodial model, meaning users always hold their own funds rather than handing them to a third party.
Index Ventures Sees a Consumer Shift, Not Just a Crypto Bet
Index Ventures partner Julia Andre led the Series B. She framed the investment in broad terms. Index backed Fomo not "simply as 'a crypto business,'" Andre told Fortune, but because it saw a "market shift" in how everyday consumers want to trade on-chain. That framing positions Fomo closer to a consumer fintech app than a crypto exchange.
The vote of confidence builds on Fomo's Series A. Benchmark led that $17 million round in November 2025, just six months after the app launched. The angel roster — drawn from gaming and consumer tech rather than pure crypto — hints at a strategy focused on gamification and viral social growth, according to Blockster.
Social Features and Perpetual Futures Set Fomo Apart From Rivals
Fomo differentiates itself through social tools like live trade feeds, leaderboards, and copy trading — where a user can automatically mirror another trader's moves. In April 2026, it expanded beyond spot tokens to add perpetual futures, a high-leverage product that lets traders bet on price direction without owning the underlying asset. That move put it in direct competition with institutional-grade platforms, Finance Feeds reported.
Critics have raised flags about that expansion. DeFi analysts warn that copy trading could create a class of influential "crypto trader" accounts capable of moving markets when thousands of users mirror their positions instantly. Others caution that simplified interfaces can obscure the real risks of leveraged trading from inexperienced users.
$75M to Fuel Acquisitions, Headcount, and Institutional Expansion
Fomo plans to use the new capital on three fronts: growing its 17-person team, expanding into additional asset classes like equities and prediction markets, and pursuing potential acquisitions of smaller DeFi tools, according to Value The Markets. The company has also flagged plans to build an institutional footprint, suggesting future API or "pro" access for smaller hedge funds.
Analysts note that Fomo's timing is sharp. Retail crypto interest is recovering and Bitcoin has stabilized, but some analysts speaking to financial outlets have issued a caution: rising search activity does not always mean new money is flowing into the market. Whether Fomo's 3,500 daily sign-ups translate into active, funded traders will be the key test of its $550 million valuation.
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