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Crypto trading app Fomo raises $75 million Series B at about $550 million valuation

Crypto trading app Fomo raises $75 million Series B at about $550 million valuation

The round was led by Index Ventures and included Union Square Ventures, Mark Pincus, Humam Sakhnini and Kevin Hartz, valuing the startup founded in 2025 by former dYdX team members at $550 million.

DYDX

Fact Check
Fortune's exclusive reporting confirms each component of the claim: the $75 million Series B amount, the ~$550 million valuation, Index Ventures as lead, Union Square Ventures' participation, the named angels (Mark Pincus, Humam Sakhnini, Kevin Hartz), and the 2025 founding by former dYdX team members. CryptoBriefing independently corroborates the same figures and investor list. All material facts align across both sources.
    Reference: 12
Summary

Fomo has raised $75 million in a Series B round led by Index Ventures, with backing from Union Square Ventures, Zynga co-founder Mark Pincus, Discord CEO Humam Sakhnini and Eventbrite co-founder Kevin Hartz, giving the crypto trading startup a $550 million valuation. The company was founded in 2025 by former dYdX team members Paul Erlanger, Se Yong Park and Prashan Dharmasena. The funding highlights investor interest in non-custodial trading apps, where users retain control of their assets rather than placing them with a platform.

Terms & Concepts
  • Series B: A later-stage private fundraising round typically used to scale a startup's business.
  • non-custodial trading apps: Trading platforms that let users keep control of their own assets instead of transferring custody to the service.