Fomo Raises $75M at $550M Valuation as Major VCs Bet on Consumer Crypto

Fomo, a social-first crypto trading app, raised $75 million in Series B funding led by Index Ventures, valuing the platform at $550 million. Union Square Ventures, Benchmark, and angel investors including Zynga's Mark Pincus and Discord CEO Humam Sakhnini participated in the round. Since launching in May 2025, Fomo has attracted 625,000 users and $4 billion in trading volume with a team of 17.

The funding signals conviction from major non-crypto venture firms that the next wave of mainstream users will adopt blockchain trading through consumer-friendly applications rather than traditional exchanges. Index Ventures, known for backing Figma and Scale AI, framed the investment as betting on a market shift in consumer blockchain trading, not on crypto as an asset class.