Fomo secures $75M Series B funding, achieves $550M company valuation
Social trading platform Fomo completes Series B financing at a $550 million valuation, highlighting continued strength in cryptocurrency venture capital activity throughout 2026.
The cryptocurrency startup Fomo has successfully secured $75 million through a Series B financing round spearheaded by Index Ventures, a prominent venture capital firm, establishing the social trading and token discovery platform's valuation at $550 million.
Additional participants in the investment round included Union Square Ventures alongside Benchmark, an existing backer of the company. The round also attracted several angel investors, including Zynga's co-founder Mark Pincus, Kevin Hartz who co-founded Eventbrite, Humam Sakhnini serving as Discord's CEO, Nexos AI co-founder Tomas Okmanas, and various other contributors, according to Monday's announcement from Fomo.
The platform enables users to conduct asset trading across numerous blockchains while eliminating the need for manual fund bridging or gas fee management. According to the company's data, the platform has successfully onboarded over 625,000 traders within its first year of operation, facilitating $4 billion worth of trading volume and recording 110 million social interactions among users.
This funding round contributes to an expanding roster of cryptocurrency venture capital transactions in 2026, despite digital asset valuations continuing to trade beneath their most recent peak levels. Data from RootData indicates that crypto-focused startups successfully raised $4.1 billion throughout 147 separate funding rounds during the second quarter of the year.
Fomo says 68,000 users made first crypto purchase on platform
According to Fomo's statistics, over 68,000 individuals completed their inaugural cryptocurrency transaction through the platform utilizing Apple Pay as their payment method, accounting for approximately $25 million in cumulative transaction volume.
Delphi Digital, a cryptocurrency research organization, commented in a December post on X that the platform's integration of social functionality may be contributing to user acquisition by transforming the trading experience to feel "more like scrolling a feed than sitting at a terminal."
In November, @fomo_family generated more monthly fees than Moonshot, despite being a younger product with lower fees.
Delphi Digital
The Fomo platform provides users with the capability to observe trades executed by fellow users in real time and replicate similar trading strategies across various blockchains without the requirement to manually bridge assets between networks or maintain multiple separate wallets.
Additional cryptocurrency trading platforms that provide copy-trading capabilities include Binance, Bybit, OKX, Bitget, BingX, MEXC, Gate.io, KuCoin, Phemex and BitMart.
On June 11, Fomo introduced perpetual futures contracts utilizing Hyperliquid's infrastructure for its international user base outside the United States. Earlier on June 2, the company announced it had exceeded $2 million in total referral fees distributed to its users.