Social trading platform Fomo has raised $75 million in new funding, increasing its valuation to $550 million and highlighting ongoing investor interest in digital asset startups despite challenging market conditions. The Series B round was led by Index Ventures, with participation from Union Square Ventures, Benchmark, and several prominent technology entrepreneurs.
Fomo has built its reputation on social trading and token discovery, allowing users to follow other traders’ activity and execute similar transactions across multiple blockchains without managing bridges, gas fees, or complex wallet setups.
The company says it has attracted more than 625,000 traders since launching a year ago. During that period, users generated over $4 billion in trading volume and more than 110 million social interactions on the platform.
A key growth driver for Fomo has been onboarding new crypto users. The company reported that over 68,000 people purchased cryptocurrency for the first time through the platform using Apple Pay, generating about $25 million in transaction volume.
This funding round occurs amid renewed venture capital activity in the crypto sector. Although digital asset prices remain below recent peaks, investors continue to support platforms focused on user experience, social engagement, and simplified access to blockchain markets.
Fomo recently expanded its offerings by launching perpetual futures trading powered by Hyperliquid for users outside the United States. The company also introduced referral programs that reward active users for bringing new participants to the platform.
Industry observers note that social trading features are making crypto markets more accessible by transforming trading from a technical activity into a social media-like experience. This approach has resonated with younger investors and first-time crypto participants.
With new capital, Fomo is expected to continue expanding its product suite and compete more aggressively in the rapidly evolving social trading sector.
We have raised a $75M Series B from @IndexVentures and @usv, with continued support from @benchmark! pic.twitter.com/uFgqlgmxTL
— fomo (@fomo) June 22, 2026
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