fomo announced that it has raised $75 million in Series B funding to scale its social-first trading platform. The round was led by Index Ventures, with participation from Union Square Ventures and existing investor Benchmark.
fomo is designed to simplify access to on-chain markets by removing many of the technical barriers typically associated with decentralized trading.
The company said on-chain market participation remains difficult for everyday consumers because users often have to manage multiple non-custodial wallets, navigate fragmented blockchains, calculate gas fees, and execute token bridges.
fomo abstracts that complexity behind a consumer-focused interface. The platform unifies liquidity, automatically routes transactions behind the scenes, and supports onboarding through familiar payment methods such as Apple Pay.
The company said it has surpassed $4 billion in trading volume and 600,000 users.
fomo is also building a social layer into the trading experience. Users can discover trending assets, follow top-performing traders, track open positions, and review real-time profit-and-loss metrics through public leaderboards.
The company said several prominent fomo content creators have gained more than 100,000 followers within 12 months of launch.
fomo plans to use the funding to expand into additional asset classes, including equities, perpetuals, and prediction markets. The company will also continue investing in its broader trading and social platform.
Founded in 2025 by Paul Erlanger, Se Yong Park, and Prashan Dharmesena, fomo launched publicly last year and has grown through community adoption, social sharing, and organic user acquisition.
Before founding fomo, the founders worked together at decentralized exchange dYdX after starting their careers at Deutsche Bank.
KEY QUOTES:
“I’ve been a trader for a long time and the fomo team has been able to do something special. They are the first platform that is both performant for traders and accessible for everyone else. It has the potential of becoming the largest trading app in the world as they expand globally and increase their asset availability. It’s the first app I show my friends whenever they ask what to trade. They can track me in real time.”
Rohun Vora, trader on fomo
“Most trading products aren’t built with the user in mind. They are dull, hard to understand, and make you want to rip your hair out. Each decision we make at fomo is made to bring our users joy. fomo is accessible, social, and understandable in 15 minutes. We believe people should be able to access global markets instantly, share opinions and conviction through their network, and participate without needing to understand the technical complexity underneath it all.”
Paul Erlanger, Co-Founder and CEO of fomo
“Financial markets are going through a major infrastructure transition, but what stood out to us about fomo was the team behind it. Se has an exceptional understanding of how traders think, behave, and discover opportunities, while Paul has a rare ability to translate that complexity into a product that feels intuitive and accessible to everyday consumers. Together, they’re building a trading experience that feels native to the next generation of users while taking full advantage of the opportunities emerging on-chain.”
Julia Andre, Partner at Index Ventures
“fomo seems simple but under the surface there is a lot of technical complexity. Through behind the scenes wallet generation, key management, gas sponsorship and more fomo takes the burden away from the end consumer.”
Prashan Dharmesena, Co-Founder of fomo
“Trading is fundamentally a social behavior and an expression of unique insight. A trader with a clear macro conviction should be able to express it through multiple avenues simultaneously—whether that means going long on a commodity, shorting a correlated equity, or purchasing a prediction market contract. In an internet increasingly dominated by automated, synthetic content, active trading represents genuine human conviction and the future of online engagement.”
Se Yong Park, Co-Founder of fomo
