Social trading platform Fomo raises $75M, reaches $550M valuation
Fomo raised $75 million in a Series B led by Index Ventures, valuing the crypto social trading and token discovery platform at $550 million. Union Square Ventures, Benchmark, and several angel investors also participated. The platform lets users trade across multiple blockchains without manually bridging funds or managing gas fees. Since launching a year ago, Fomo says it has drawn more than 625,000 traders, generating $4 billion in trading volume and 110 million social interactions. It also says over 68,000 users made their first crypto purchase on the app via Apple Pay, totaling about $25 million. The funding comes amid continued crypto venture activity in 2026 despite weaker digital asset prices. Fomo has also expanded its product with perpetual futures for non-U.S. users and has paid over $2 million in referral fees.
