fomo, a crypto trading application focused on simplifying the user experience for both retail and crypto-native users, announced that it has raised $17 million in a Series A round led by Benchmark. The new funding brings the company’s total capital raised to $19 million. The investment comes as fomo continues to scale following its beta launch six months ago, during which it has quickly grown into one of the largest cross-chain trading platforms in the crypto market.
The company aims to address long-standing usability challenges in decentralized finance by offering a unified trading experience across blockchains. fomo allows users to maintain one balance across multiple chains, buy any asset with a single swipe, and avoid the need for separate wallets, bridges, or gas fees. The platform also features tools that allow users to track top traders and discover trending assets.
Since launching its beta, the app has processed nearly $700 million in transaction volume, onboarded more than 120,000 users and 35,000 traders, and facilitated approximately $5 million in on-ramp volume for around 15,000 new entrants to the crypto space. The company reports user growth of nearly 10% week-over-week during the period.
fomo describes its current platform as the early foundation of what it intends to become: the social layer of global finance. As its social network of traders expands, the company plans to introduce additional asset types and features to support broader speculative and market engagement behaviors.
Benchmark’s involvement aligns fomo with a venture firm known for backing major consumer technology platforms, including Uber, Snapchat, Instagram, and Twitter. fomo says Benchmark’s experience with scaling network-driven consumer products makes it a strong fit for the company’s next phase of growth.
In addition to Benchmark’s lead investment, the round includes participation from a broad group of angel investors spanning crypto founders, traders, creators, and operators across the technology sector. Angel participants include Shrey Shahi; Jack Brody; Harry Stebbings; the 20 Product syndicate (Hugo Barra, Geoff Charles, Glen Coates, Tomer Cohen, Jag Duggal, Gustav Söderström, and Will Wu); Luca Netz; Brian Jung; Amit Kukreja; Jacob Horne; Ivan Soto-Wright; Sabrina Hahn; Jez; Based16z; David Luan; Requisiem; Sisyphus; Lawliette; NBS; Icebergy; Henrik Werdelin; Madhi Raza; Mike Karnjanaprakorn; Andy8052; Will Price; Blurr; Salsatekila; 0xGolden; Nobi Ventures; SpiderCrypto; Leighton; Kyle; CryptoTomYT; Nosanityxbt; Salvino; Archetype; Coinbase Ventures; Lucas Sheiner; Nikhil Ramen; Austin Green; Fitz; and Brandon Cigri.
The company says development will accelerate as it expands its product suite and grows the underlying social graph that powers the experience.
