Fomo buys Mobula tech as trading volume nears $2.8B a month
What's the deal? Fomo, an on-chain trading platform, has acquired proprietary software and intellectual property from MobulaDealroom has a profile for this one. Try Dealroom →, an on-chain data aggregator and infrastructure company. Certain Mobula team members will also join fomo. Terms were not disclosed.
Why now? Fomo's user base has more than doubled to over 1.9 million since early July, with 30,000 new users added daily and more than 1.2 million active in August. That growth is straining the systems behind its on-chain data and global infrastructure.
What's the endgame? The acquired IP lets fomo build data capabilities in-house rather than lean on a fragmented set of external providers. "Acquiring these assets gives us greater control over our infrastructure as we continue to expand the platform," said co-founder and chief executive officer Paul Erlanger.
The hires: Mobula founder Sacha Marcus joins fomo's engineering team, alongside Mobula chief technology officer Sacha Delhoux and head of infrastructure Cyril Conan. "Joining fomo gives us the opportunity to take that technology further and build it directly into one of the fastest-growing consumer platforms in crypto," Marcus said.
By the numbers: Fomo tripled trading volume from $500 million in June to $1.5 billion in July. In August it is pacing toward more than $2.8 billion in monthly volume and roughly $17 million in monthly revenue — a run rate above $200 million annually. The platform has climbed as high as No. 3 in the Finance category on the iOS App Store.
What's the bigger picture? Fomo is folding trading, discovery, and social interaction into one experience, letting users follow other traders and build audiences around their performance. It recently launched Clans for communities to compete together, while fomo Web now accounts for about 25% of total platform volume.
The signal: Bringing infrastructure in-house marks a shift for consumer crypto platforms scaling past reliance on outside providers. For fomo, controlling the data layer is a bet that reliability and performance will underpin its next phase of growth.
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Image credit: Generated with Gemini
