Overview
- Fomo announced a $75 million Series B led by Index Ventures on Monday, valuing the startup at $550 million and listing Union Square Ventures as a participant.
- The company says it adds about 3,500 new users per day and has seen rapid growth in revenue and trading volume since its May 2025 launch.
- Fomo’s product is a noncustodial, multichain, gasless trading app that includes social features such as leaderboards, trade feeds, copy trading, and one‑click onboarding with Apple Pay.
- Founders who previously worked at the decentralized perpetuals exchange dYdX say the new capital will be used to hire engineers aggressively and to pursue possible acquisitions to speed expansion.
- Investors framed the round as a selective vote of confidence in consumer blockchain trading and a bet that Fomo can broaden beyond crypto to compete with centralized exchanges and mobile trading apps.