Fomo Secures $75M Series B Funding at $550M Valuation

The cryptocurrency trading platform Fomo has raised $75 million in a Series B funding round led by Index Ventures, achieving a valuation of $550 million. The round, announced on June 22, 2026, included participation from Union Square Ventures, existing investor Benchmark, and a roster of prominent angel investors.

The investment will support the company's goal of building an accessible global on-chain trading application. Fomo aims to simplify the user experience by abstracting away the technical complexities of blockchain trading, such as managing bridges and gas fees. Users can sign in with an Apple ID or email and trade across multiple blockchains through a single interface.

Founded in 2025 by former dYdX employees Paul Erlanger, Se Yong Park, and Prashan Dharmasena, Fomo blends trading with social features. The platform includes real-time transaction feeds, leaderboards, and copy-trading tools, designed to make trading feel more like using a social media feed. Company data shows more than 625,000 users have joined since launch, generating over $4 billion in trading volume and 110 million social interactions. The platform is adding approximately 3,500 new users daily.