Fomo Raises $75 Million Series B Led by Index Ventures

• Fomo raised $75 million in a Series B led by Index Ventures at a $550 million valuation, announced Monday, June 22, 2026.
• Union Square Ventures and existing investor Benchmark joined, alongside angels Mark Pincus, Humam Sakhnini, and Kevin Hartz.
• The platform reports more than 625,000 users and over $4 billion in trading volume as it moves into equities, perpetuals, and prediction markets.

After a successful pre-seed and Series A raise in 2025, fomo, a blockchain-based social trading platform, has raised $75 million in a Series B funding round led by Index Ventures at a $550 million valuation, the company announced on Monday, June 22, 2026, boosting retail interest in trading despite a falling market.

Investor interest in the team and the app is growing, driven by rising appetite for consumer-focused blockchain applications. Index Ventures led the round, with participation from Union Square Ventures and existing investor Benchmark. The round also drew prominent tech investors, including Zynga co-founder Mark Pincus, Discord chief executive Humam Sakhnini, and Eventbrite co-founder Kevin Hartz, all of whom have backed highly successful technology companies over the years.

“Financial markets are going through a major infrastructure transition, but what stood out to us about fomo was the team behind it,” said Julia Andre, Partner at Index Ventures.

The core idea behind Fomo was clear from the start: to simplify access to digital assets and ensure smooth on-chain trading for everyday users.

“Most trading products aren’t built with the user in mind. They are dull, hard to understand, and make you want to rip your hair out,” said Paul Erlanger, co-founder and CEO of fomo. “Each decision we make at fomo is made to bring our users joy. fomo is accessible, social, and understandable in 15 minutes.”

The platform combines social networking with digital asset trading, enabling traders to track transactions, create public profiles, and engage with others in real time. Founded in 2025 by Paul Erlanger, Se Yong Park, and Prashan Dharmasena, all veterans of the trading platform dYdX, Fomo launched publicly in May 2025. The app routes transactions automatically across blockchains, sparing users the bridges, gas fees, and wallet management that complicate traditional DeFi.

According to the company, more than 625,000 individuals have signed up for Fomo since its May 2025 launch. Over that same period, users engaged in more than 110 million social interactions, and the platform recorded over $4 billion in trading volume. Fomo also reports that over 68,000 users purchased cryptocurrency on the platform for the first time via its Apple Pay integration, totaling around $25 million in transactions.

The investment indicates that investors remain keen on offerings that make blockchain technology more relatable and user-friendly for the general public. The company plans to use the capital to expand into additional asset classes, including equities, perpetuals, and prediction markets, while growing its engineering team. As digital assets, tokenized offerings, and on-chain financial services expand, venture capital firms are increasingly backing consumer platforms that prioritize simplicity, echoing other sizable fintech raises during the market lull.

Editorial Note: This news article has been written with assistance from AI. Edited & fact-checked by the Editorial Team.

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