Fomo Secures $17 Million Series A Led by Benchmark
Fomo’s $17 million funding round, led by Benchmark, raises total capital to $19 million, enabling further growth of its Apple Pay-integrated, cross-chain crypto trading app with social trading features.
Summary
Crypto trading app Fomo announced in an official statement that it raised $17 million in Series A funding led by Benchmark, bringing total funding to $19 million. Launched in May, the platform enables cross-chain trading of millions of crypto assets, applies a 0.5% fee, waives gas fees, integrates with Apple Pay, and supports social trading capabilities.
Terms & Concepts
- Cross-chain assets: Digital assets that can be transferred and operated across multiple blockchain networks.
- Gas fees: Transaction costs paid to validate operations on a blockchain network.
- Social trading: A feature allowing users to follow and replicate the trading strategies of other investors.