Fomo, a social trading platform for cryptocurrencies, has successfully raised $75 million in a Series B funding round, pushing its valuation to $550 million. The platform has attracted over 625,000 users and processed $4 billion in trading volume within its first year.
Led by Index Ventures, the round included participation from Union Square Ventures and existing investor Benchmark. Angel investors such as Zynga co-founder Mark Pincus, Eventbrite co-founder Kevin Hartz, Discord CEO Humam Sakhnini, and Nexos AI co-founder Tomas Okmanas also contributed.
Fomo’s core innovation is turning crypto trading into a scrollable social feed, allowing users to see real-time transactions of other traders and copy them across multiple blockchains without manually moving assets. The platform simplifies access through Apple ID or email, eliminating the need for bridges, gas fees, or wallet management.
The funding arrives amid sustained venture interest in consumer-focused crypto products. According to RootData, crypto startups raised $4.11 billion across 148 rounds in the second quarter. Fomo’s raise adds to a string of large deals, including Digital Asset Holdings securing $355 million from Andreessen Horowitz and Neura Robotics announcing up to $1.4 billion in Series C funding.
Fomo’s social features have driven engagement, with the platform recording over 110 million social interactions since launch. More than 68,000 users made their first crypto purchase via Apple Pay, generating roughly $25 million in volume. The company compares its approach to the digitization of stock trading in the 1970s, aiming to make blockchain-based finance as intuitive as scrolling a feed.
Industry researcher Delphi Digital previously noted that Fomo’s design makes trading feel less like a terminal and more like a social experience. In November, Fomo generated higher monthly fees than competitor Moonshot, despite being newer and charging lower fees. Competition remains stiff, with exchanges like Binance, Bybit, OKX, Bitget, and KuCoin offering similar copy-trading tools.
Fomo is expanding beyond spot trading, having introduced perpetual futures powered by Hyperliquid for non-U.S. users. The company’s backers have previously invested in consumer giants like Robinhood, Coinbase, Instagram, Snapchat, and Twitter, signaling confidence in its social-first approach.