Last updated on June 30th, 2026 at 11:01 am
Fomo, a crypto trading app, has raised $75 million in Series B funding, bringing its valuation to $550 million. Index Ventures led the Series B round, with participation from Union Square Ventures, Zynga co-founder Mark Pincus, Discord CEO Humam Sakhnini, and Eventbrite co-founder Kevin Hartz.
Earlier this year, Benchmark led a $17 million Series A, showing that investors remain interested in platforms making crypto easier for everyday users. Fomo plans to use the new funding to solve technical issues that have made it hard for more people to use decentralized finance tools.
🚨INDEX VENTURES AND UNION SQUARE VENTURES BACK CRYPTO TRADING APP FOMO AT $550M VALUATION!!!
Consumer crypto trading platform Fomo has secured major backing from top-tier VCs Index Ventures and Union Square Ventures, pushing its valuation to $550 million.
The app, known for… pic.twitter.com/nIMX1N1QAG
— Crypto Banter (@crypto_banter) June 22, 2026
How does Fomo simplify crypto trading?
Fomo makes blockchain transactions easier by removing gas fees and letting users set up accounts quickly with Apple Pay.
Users can trade tokens across different blockchains with one balance, so they do not have to move assets themselves. Fomo charges a flat 0.5% fee per trade, with a minimum payout of $0.95.
How has Fomo evolved, and what’s its future expansion?
The platform is growing rapidly with a user base exceeding 600,000 and a total trading volume of more than $4 billion. Co-founders Prashan Dharmasena, Se Yong Park, and Paul Erlanger said they see Fomo evolving into a comprehensive “everything” app. Their long-term strategy involves growing beyond cryptocurrency to support tokenized stocks and various on-chain assets as the digital market continues to develop.
Fomo intends to expand its asset offerings to include stocks, traditional derivatives, and real-world assets, signalling a move toward added financial integration.
This fast growth shows that the company is scaling quickly and that big investors are gaining confidence in crypto platforms aimed at regular users.
Meanwhile, SGX Group has become a shareholder in FOMO Group to support the expansion of tokenized assets and stablecoin settlements. The collaboration will advance regulated cross-border payments and digital asset adoption across Asia. FOMO Pay and 1exchange plan to utilize SGX’s capital markets expertise to promote institutional-grade tokenization.
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