Fomo has raised $75 million in a Series B funding round that values the crypto trading platform at $550 million after attracting more than 625,000 users and generating $4 billion in trading volume within its first year.
Summary
- Fomo raised $75 million in a Series B round led by Index Ventures, reaching a $550 million valuation.
- The social trading platform has attracted 625,000 users, processed $4 billion in volume, and generated 110 million interactions.
- The funding comes amid continued venture activity, with major raises also announced by Digital Asset Holdings and Neura Robotics.
According to a June 22 announcement by Fomo, the round was led by Index Ventures with participation from Union Square Ventures and existing investor Benchmark.
The company also received backing from several angel investors, including Zynga co-founder Mark Pincus, Eventbrite co-founder Kevin Hartz, Discord chief executive Humam Sakhnini, and Nexos AI co-founder Tomas Okmanas.
Built around social trading, Fomo allows users to see transactions made by other traders in real time and execute similar trades across multiple blockchains without manually moving assets between networks. The platform said users can access crypto markets using an Apple ID or email account while avoiding the complexity of bridges, gas fees, and wallet management.
The funding arrives as investors continue to back consumer-focused crypto products despite digital asset prices remaining below recent highs. Data from RootData shows crypto startups raised $4.11 billion across 148 funding rounds during the second quarter.
Social trading drives user growth
Alongside details of the funding round, Fomo disclosed that its platform has recorded more than 110 million social interactions since launching a year ago. The company said over 68,000 users purchased cryptocurrency for the first time through Apple Pay, generating roughly $25 million in transaction volume.
Describing the opportunity, Fomo argued that blockchain-based financial products are becoming increasingly accessible as more assets move on-chain. The company compared the current transition to the digitization of stock trading that began in the 1970s, while stating that many consumers still lack simple access to emerging financial products.
Interest in the platform’s social features has also drawn attention from industry researchers. In a December post on X, Delphi Digital said Fomo’s design may be helping attract users by making trading feel “more like scrolling a feed than sitting at a terminal.”
Delphi Digital also noted that Fomo generated more monthly fees than Moonshot during November, despite being a newer product and charging lower fees.
Competition in the social and copy-trading segment remains intense. Exchanges including Binance, Bybit, OKX, Bitget and KuCoin, among others, already offer copy-trading tools that allow users to mirror strategies used by other traders.
Venture funding remains active across crypto and tech
Recent product launches suggest Fomo is expanding beyond spot trading. On June 11, the company introduced perpetual futures powered by Hyperliquid for users outside the U.S.
The latest raise adds to a string of large private-market financings announced in June. Earlier this month, Digital Asset Holdings secured $355 million in a funding round led by Andreessen Horowitz’s flagship crypto fund to support the growth of the Canton Network ecosystem.
Outside the crypto sector, Neura Robotics announced up to $1.4 billion in Series C financing backed by investors that included Tether, Qualcomm, Amazon, Nvidia, Bosch, Schaeffler, and the European Investment Bank. According to the company, the capital will be used to expand the development of humanoid robots and real-world automation systems.
For Fomo, the new funding provides support from firms that previously invested in consumer platforms such as Robinhood, Coinbase, Instagram, Snapchat, and Twitter, according to the company’s announcement.
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