$75M Series B: led by Index Ventures, with participation from Union Square Ventures, valuing Fomo at **$550 million**.
Founded by former dYdX employees Paul Erlanger, Se Yong Park, and Prashan Dharmasena, who experienced firsthand how difficult onchain trading can be.
Fomo aims to onboard users in under 30 seconds, regardless of crypto familiarity, with a non-custodial model and a social feed.
The app already lists more assets than Coinbase, is available globally, and is onboarding ~3,500 new users per day with just 17 employees.
Why this matters:: During a crypto downturn, major non-crypto-native VCs like Index (known for Figma, Scale AI) are betting big on consumer blockchain — indicating a market shift toward simplified, socially-driven trading platforms.
The cofounders of Fomo built the platform after witnessing the pain points of digital asset trading at dYdX. Thousands of cryptocurrencies, countless blockchains, arcane swap fees, and overly complex onboarding processes create a high barrier to entry. As Erlanger put it: "Onchain trading is just impossible."
Fomo's approach is twofold. First, it strips down the experience so that any user can fund an account and buy a token within 30 seconds. Second, it layers on a social dimension — a leaderboard of top traders, a feed of recent trades, and the ability to share trading history on social media. The company's name is officially short for "fearless" of missing out.
The founders envision Fomo as a broader gateway to finance. As stocks, derivatives, and other assets migrate to the blockchain, Fomo plans to list them all. In June 2026, it already added perpetuals (futures contracts with no expiration). "The goal is for it not to be seen as a crypto app," said Erlanger.
Fomo competes with giants like Coinbase and Robinhood, but its non-custodial model — where the platform does not handle customer funds — provides regulatory flexibility. The startup remains compliant while operating globally. With fresh capital, Fomo plans to hire more engineers and potentially acquire smaller companies.
Index Ventures previously backed Bridge, a stablecoin startup acquired by Stripe for $1.1 billion in 2025. Union Square Ventures has investments in Polygon and Matter Labs. This track record demonstrates that despite the bearish sentiment in crypto, these firms see a fundamental market shift in consumer blockchain trading.
What is Fomo?
Fomo is a crypto trading app designed to simplify onchain trading. It offers a non-custodial platform where users can buy tokens, trade perpetuals, and share their trading activity socially — all within 30 seconds of onboarding.
Who invested in Fomo's Series B?
Index Ventures led the $75 million round, joined by Union Square Ventures, Zynga cofounder Mark Pincus, Discord CEO Humam Sakhnini, and Eventbrite cofounder Kevin Hartz, among 140 angel investors.
How is Fomo different from Coinbase or Robinhood?
Fomo is non-custodial (it does not hold user funds), lists more assets than Coinbase, is globally available, and emphasizes a socially-driven trading experience with leaderboards and shareable trading histories.
Is Fomo only for cryptocurrency trading?
No. The founders aim to expand into stocks, derivatives, and any asset that moves onto the blockchain, positioning Fomo as a broader gateway to all finance.
For traders:: Fomo lowers the barrier to onchain trading with a 30-second onboarding flow and a non-custodial model that keeps your funds in your control.
For investors:: The backing of Index Ventures and Union Square Ventures signals that consumer-friendly blockchain apps are gaining mainstream VC confidence despite the broader crypto downturn.
For crypto newcomers:: Fomo's social feed and leaderboard make it easier to learn from top traders and participate in markets without deep technical knowledge.
Key action:: If you're interested in simplified crypto trading, Fomo is onboarding 3,500 users daily — it's worth exploring as a more accessible alternative to traditional exchanges.
Fomo is entering a competitive space dominated by Coinbase and Robinhood, but with a radically simpler, social-first approach. Do you think non-custodial, social trading apps will become the norm? Or will regulatory challenges hold them back? Let us know your thoughts!
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