Social trading app Fomo closed a $75 million Series B at a $550 million valuation on June 22, bringing total disclosed funding to roughly $94 million as the year-old startup expands into perpetual futures for non-US users.
Index Ventures led the round. Union Square Ventures and Benchmark, which led Fomo's $17 million Series A in November 2025, also participated. Angel investors include Zynga co-founder Mark Pincus, Eventbrite co-founder Kevin Hartz, and Discord CEO Humam Sakhnini.
Fomo turns trading into a feed
Fomo was founded in 2025 by former dYdX executives Paul Erlanger, Se Yong Park, and Prashan Dharmasena. The platform lets users discover and trade tokens through a social feed without managing wallets, gas, or bridges. Accounts open with email or Apple ID.
At the June 22 announcement, Fomo reported 625,000 users, $4 billion in trading volume, and 110 million social interactions since launch. It was adding roughly 3,500 accounts per day. Among those users, 68,000 first-time crypto buyers used Apple Pay for their initial purchase, generating about $25 million in combined volume.
Hyperliquid perps add the next product layer
On June 11, Fomo extended its product to perpetual futures for non-US users, routing execution through Hyperliquid's on-chain order book.
"We're not doing Fomo because it's a crypto business," Index Ventures partner Julia Andre told Fortune. "We're doing Fomo because we think there is a market shift there, and they have what it takes to capture this next wave of consumer blockchain trading."
Fomo runs 17 employees against a $550 million valuation. Hyperliquid separately is projected to fund $135–160 million in annual HYPE buybacks through its on-chain fee and USDC yield structure, per CryptoBriefing.