Fomo completed the $75 million B round of finance with an estimated value of $550 million. This round, led by Index Ventures, with the participation of Union Square Ventures, Benchmark and a number of Angel investors in the technology industry, shows that some traditional investments continue to bet on consumer-grade encryption products.
Post-financing valuation increased to $550 million
Fomo was created in 2025 by three former dYdX employees, who played the trade experience on the socialization chain. The product emphasizes non-hosting, fast-track registration and streamlined operations, and hopes to bring chain transactions closer to ordinary consumption applications rather than the traditional encryption interface.
According to the company, since it went online in May 2025, the platform has had more than 625,000 users, with a cumulative trade volume of $4 billion, with an average of about 3,500 new users per day and a team size of 17. After completion of the current round, Fomo accumulated approximately $94 million.
The traditional wind project continues with the distribution of encrypted consumer products.
The report mentions that the Index Ventures has invested more in the past in technology companies such as Figma, Scale AI, Union Square Ventures, and that it is not common to use encrypted project-led financing lists. This time, two institutions were involved in Fomo financing, which was seen as a clear bet from traditional technology capital on encrypted consumer products.
Paul Erlanger, a co-founder of Fomo, states that the current chain transactions are still too complex for ordinary users, and that the company's aim is to minimize the use of "encrypted applications" labels so that users can complete their transactions as if they were using conventional financial products.
Funds will be invested in M&As and product expansion
Fomo has been on line in June to continue the contract product and plans to continue to expand to the chain of stocks, derivatives and forecast markets. The company management indicated that the new financing would be used for potential acquisitions and the expansion of the engineering team.
If this direction goes well, Fomo will compete more directly with the “everything app” route promoted by Coinbase, as well as with the layout of Robinhood on the financial entrance to the chain.
At the industry level, the financing also shows that, at a time when market volatility is still evident, capital does not completely retreat from consumer-grade products outside the encryption infrastructure, especially those that attempt to lower the threshold for chain use, and still have access to large institutional support.