Crypto social trading startup Fomo raised $75 million in a Series B funding round led by Index Ventures at a $550 million valuation, roughly a year after launch. The round signals renewed investor appetite for consumer-facing crypto products. Union Square Ventures co-invested alongside existing backer Benchmark, with angel investors including Zynga co-founder Mark Pincus, Eventbrite co-founder Kevin Hartz, and Discord CEO Humam Sakhnini. The raise comes as crypto venture funding rebounded to $4.1 billion across 147 rounds in the second quarter of 2026.
Fomo Secures $75 Million Series B Led by Index Ventures
Index Ventures led the Series B round, with Union Square Ventures co-investing alongside existing backer Benchmark. Angel investors in the round included Zynga co-founder Mark Pincus, Eventbrite co-founder Kevin Hartz, and Discord chief executive Humam Sakhnini. The round lifts Fomo's total disclosed funding to roughly $94 million.
Platform Records 625,000 Traders and $4 Billion Volume Since Launch
Founded in 2025 by Paul Erlanger, Se Yong Park, and Prashan Dharmasena — all veterans of derivatives exchange dYdX — Fomo enables users to trade assets across multiple blockchains through a single interface without manually bridging funds or paying gas fees. The platform's social layer includes copy-trading, trader leaderboards, and activity feeds that surface other users' positions in real time.
The company reported that more than 625,000 traders have joined since launch, generating over $4 billion in volume and 110 million social interactions. Fomo added that 68,000 users bought crypto for the first time through its Apple Pay integration, accounting for about $25 million in purchases. The platform paid out more than $2 million in referral fees to users.
In June, Fomo added perpetual futures powered by Hyperliquid for users outside the United States, extending its reach from spot trading into leveraged products.
Crypto Venture Funding Reaches $4.1 Billion in Q2 2026
Venture capital flows returned to the crypto sector in the second quarter of 2026, with funding reaching $4.1 billion across 147 rounds. Consumer-focused trading apps were among the beneficiaries of renewed investor appetite, which had cooled sharply during the previous market downturn. Token prices remain below recent peaks.
Fomo did not detail how it will deploy the new capital.
FAQ
What did Fomo announce in its Series B funding round?
Fomo raised $75 million in a Series B round led by Index Ventures at a $550 million valuation, roughly a year after launch. Union Square Ventures co-invested alongside existing backer Benchmark, with angel investors including Zynga co-founder Mark Pincus, Eventbrite co-founder Kevin Hartz, and Discord CEO Humam Sakhnini. The round brings Fomo's total disclosed funding to roughly $94 million.
How many traders and how much volume has Fomo recorded since launch?
Fomo reported that more than 625,000 traders have joined since launch, generating over $4 billion in volume and 110 million social interactions. The platform onboarded 68,000 first-time crypto buyers via Apple Pay, accounting for about $25 million in purchases, and paid out more than $2 million in referral fees to users.
What was the total crypto venture funding in the second quarter of 2026?
Crypto venture funding reached $4.1 billion across 147 rounds in the second quarter of 2026, reflecting renewed investor appetite for consumer-facing crypto products despite token prices remaining below recent peaks.
