Crypto trading app Fomo raises $75M Series B led by Index Ventures at $550M valuation
What's the deal? Crypto trading startup Fomo has raised $75 million in a Series B round led by Index Ventures, valuing the company at $550 million.
Backers include Union Square Ventures, Zynga co-founder Mark PincusDealroom has a profile for this one. Try Dealroom →, Discord chief executive officer Humam SakhniniDealroom has a profile for this one. Try Dealroom →, and Eventbrite co-founder Kevin HartzDealroom has a profile for this one. Try Dealroom →.
Founded in 2025 by former dYdX team members Paul Erlanger, Se Yong Park, and Prashan Dharmasena, Fomo has scaled fast.
Why now? The raise lands barely a year after Fomo's launch, a sign of fierce investor appetite for crypto trading platforms.
The founders' dYdX pedigree gives the startup credibility in a crowded market.
What could go wrong? Crypto markets are volatile, and trading apps live or die by user activity.
At a $550 million valuation, Fomo faces pressure to grow into expectations. Regulatory scrutiny of crypto trading also remains a persistent risk.
The signal: Index Ventures and Union Square Ventures, both established investment funds, anchoring an early-stage company at a $550 million valuation just a year after launch underscores how aggressively institutional money is chasing crypto trading platforms. The trio of angel backers — Zynga's Mark Pincus, Discord's Humam Sakhnini, and Eventbrite's Kevin Hartz — points to ambitions of building Fomo into a consumer-scale product rather than a niche trading tool.
Read more: bitgetapp.com
