Fomo raises $75M Series B at $550M valuation

Fomo announced a $75 million Series B round led by Index Ventures that values the company at $550 million. The financing, revealed on Monday, included participation from Union Square Ventures, returning investor Benchmark and angel backers Mark Pincus, Kevin Hartz, Humam Sakhnini and Tomas Okmanas.

Fomo operates a social trading and token discovery platform that allows users to execute trades across multiple blockchains without manually bridging assets or handling gas fees. The company launched about a year ago.

Since launch Fomo reported more than 625,000 traders, about $4 billion in trading volume and roughly 110 million social interactions on the platform.

The company said more than 68,000 people made their first cryptocurrency purchase on Fomo using Apple Pay, representing about $25 million in transaction volume. Fomo also reported it had paid more than $2 million in referral fees to users as of June 2.

On June 11 Fomo introduced perpetual futures contracts for users outside the United States, a product powered by Hyperliquid.

A crypto research firm noted that the platform’s feed-style interface can make trading feel “more like scrolling a feed than sitting at a terminal,” and that in November Fomo generated more monthly fees than a competing product called Moonshot.

RootData recorded $4.1 billion invested in crypto startups across 147 funding rounds in the second quarter of 2026.

Several major exchanges offer copy-trading or social trading features, including Binance, Bybit, OKX, Bitget, BingX, MEXC, Gate.io, KuCoin, Phemex and BitMart. Fomo highlights its integration of social discovery with cross-chain execution and simplified on-ramps such as Apple Pay.

Fomo said the new capital will be used to expand product offerings and scale operations as the company pursues broader user acquisition and market expansion.