New York-based fintech start-up Fomo has secured $75 million in Series B funding, marking a major step forward for the company’s plans to grow its on-chain consumer trading platform.
The funding round was led by Index Ventures, with participation from Union Square Ventures and existing investor Benchmark. The latest investment values Fomo at approximately $550 million, highlighting rising investor confidence in consumer-focused trading platforms that simplify access to digital assets.
Fomo Targets Mainstream Retail Investors
Founded in 2025, Fomo is building a trading platform designed to make digital token investing easier for everyday users. Unlike many crypto trading platforms, Fomo focuses on reducing the technical barriers that often prevent mainstream investors from entering the market.
Its platform allows users to trade digital tokens across multiple blockchains without needing to manage crypto wallets, pay gas fees manually, or move assets between different blockchain networks. This approach positions Fomo as part of a broader fintech trend focused on making digital asset investing more accessible to non-technical users.
The company was founded by former Deutsche Bank and dYdX employees Se Yong Park, Prashan Dharmasena, and Paul Erlanger, who currently serves as CEO.
$75M Series B to Support Product Expansion
Fomo plans to use the new Series B funding to expand its trading capabilities beyond digital tokens. The company is preparing to move into additional asset classes, including equities, perpetuals, and prediction markets.
This expansion could help Fomo compete in a fast-growing segment of fintech where retail investors increasingly expect platforms to offer multiple trading products in one place. By combining blockchain-based trading with a consumer-friendly user experience, Fomo is aiming to bridge the gap between traditional investing apps and decentralized finance tools.
Strong User Growth Since Launch
Since launching, Fomo says it has attracted more than 625,000 users. The company also reports that around 68,000 users were first-time crypto buyers, suggesting that its simplified trading experience may be helping bring new investors into the digital asset market.
Fomo has also processed more than $4 billion in trading volume, a notable milestone for a start-up founded only last year. These numbers indicate growing demand for platforms that remove friction from crypto and on-chain trading.
Investors Back Fomo’s Consumer Trading Vision
Alongside Index Ventures, Union Square Ventures, and Benchmark, Fomo has also drawn support from a wide group of angel investors connected to companies such as Zynga, Eventbrite, Revolut, Discord, Nord Security, Moonpay, Coinbase Ventures, Monad, and Sound Ventures.
The investor backing reflects strong interest in fintech platforms that can make on-chain trading more familiar and accessible to everyday consumers. As digital assets become more integrated with traditional financial services, companies like Fomo are seeking to create trading experiences that feel closer to modern fintech apps than complex crypto platforms.
Fomo Plans Hiring Across Engineering and Marketing
In addition to product expansion, Fomo is expected to grow its team, particularly across engineering and marketing. The company currently has a small team, making the latest funding round a significant opportunity to scale operations and accelerate product development.
As competition increases across fintech, crypto, and retail trading, Fomo’s next phase will likely focus on improving its platform, expanding asset coverage, and reaching a wider consumer audience.
Why This Matters for Fintech
Fomo’s $75 million Series B comes at a time when investors are closely watching the next wave of consumer fintech platforms. While crypto trading has become more mainstream, many users still find blockchain-based investing difficult to navigate.
By removing wallet management, gas fee complexity, and manual asset transfers, Fomo is betting that easier access will be key to attracting the next generation of retail traders.
The company’s move into equities, perpetuals, and prediction markets also suggests that the future of trading platforms may be increasingly multi-asset, combining traditional financial products with blockchain-based infrastructure.
With fresh funding and a $550 million valuation, Fomo is now positioned to become one of the fintech start-ups to watch in the consumer trading space.