Fomo Raises $75M as Venture Capital Reaffirms Interest in Consumer Crypto

Fomo, a consumer-focused crypto trading application, raised $75 million in a Series B funding round, achieving a valuation of $550 million. Led by Index Ventures, the round also saw participation from Union Square Ventures, Benchmark, and several angel investors, including Mark Pincus and Humam Sakhnini. This funding brings the total amount raised by Fomo to approximately $94 million since its launch.

Founded in 2025 by former dYdX employees Paul Erlanger, Se Yong Park, and Prashan Dharmasena, Fomo emphasizes a user-friendly interface for on-chain trading, aiming to make it resemble traditional consumer applications. With features such as non-custodial trading, quick onboarding, and social elements like leaderboards and copy trading, Fomo provides access to a wide variety of assets across multiple blockchain networks without requiring users to manage wallets or transaction fees. Since its launch in May 2025, Fomo has attracted over 625,000 users and recorded approximately $4 billion in trading volume, adding roughly 3,500 new users daily. The company operates with a lean team of just 17 members.

This major investment reflects a shift in venture capital interest towards consumer crypto solutions, with Index Ventures noting a notable change in the market dynamics. "We’re not doing Fomo because it’s a crypto business," said Index partner Julia Andre. The sentiment among investors has shifted, as traditional tech-focused venture firms seek to capitalize on new opportunities in the blockchain trading landscape.

"Onchain trading is just impossible," co-founder Paul Erlanger stated, highlighting the challenges Fomo aims to address in simplifying the trading experience. As Fomo continues to develop, it positions itself similarly to existing firms like Coinbase and Robinhood, striving to appeal to a broad audience without emphasizing cryptocurrency elements explicitly.

The response from investors signals growing confidence in consumer-facing crypto platforms, especially as traditional tech giants venture into this space. Observers will watch to see if Fomo can maintain its growth trajectory and further innovate how users interact with on-chain assets. With the crypto market continuing to evolve, providing an intuitive and simplified trading experience may influence user adoption in the broader ecosystem.