NEW YORK, June 22, 2026 (GLOBE NEWSWIRE) -- fomo, a trading platform designed to simplify access to on-chain markets for everyone, today announced an $75 million Series B led by Index Ventures with strong participation from Union Square Ventures and existing investor Benchmark.
The funding materializes as global financial markets increasingly transition toward blockchain infrastructure, evidenced by landmark asset-issuance initiatives from major legacy exchanges like the NYSE and NASDAQ. Despite this shifting landscape, participating in on-chain markets remains notoriously complex for the everyday consumer. Traditional decentralized trading requires managing multiple non-custodial wallets, navigating fractured blockchains, calculating unpredictable gas fees, and executing complex token bridges—friction points that favor crypto insiders over mainstream investors.
fomo abstracts away this structural complexity behind an intuitive consumer interface. By unifying liquidity, routing transactions automatically behind the scenes, and supporting quick onboarding through familiar methods like Apple Pay, the platform makes the decentralized web feel as immediate and accessible as any modern internet application.
Rather than viewing community engagement as a secondary feature, fomo elevates the social layer to act as a core engine alongside its execution engine. The platform features an open environment built on transparency and verifiable performance. Users can discover trending assets, follow top-performing traders, track open positions, and review real-time profit-and-loss (PnL) metrics via public leaderboards—eliminating the unverified screenshots typical of legacy social media platforms.
The platform's creator ecosystem is thriving alongside its network growth; several prominent fomo content creators have amassed over 100,000 followers within just 12 months of launch.
“I’ve been a trader for a long time and the fomo team has been able to do something special. They are the first platform that is both performant for traders and accessible for everyone else” said Rohun Vora one of the top traders on the platform. “It has the potential of becoming the largest trading app in the world as they expand globally and increase their asset availability. It’s the first app I show my friends whenever they ask what to trade. They can track me in real time.”
“Most trading products aren’t built with the user in mind. They are dull, hard to understand, and make you want to rip your hair out,” said Paul Erlanger, co-founder and CEO of fomo. “Each decision we make at fomo is made to bring our users joy. fomo is accessible, social, and understandable in 15 minutes. We believe people should be able to access global markets instantly, share opinions and conviction through their network, and participate without needing to understand the technical complexity underneath it all.”
The company plans to use the new funding to expand into additional asset classes, including equities, perpetuals, and prediction markets, while continuing to invest in its broader trading and social platform.
“Financial markets are going through a major infrastructure transition, but what stood out to us about fomo was the team behind it,” said Julia Andre, Partner at Index Ventures. “Se has an exceptional understanding of how traders think, behave, and discover opportunities, while Paul has a rare ability to translate that complexity into a product that feels intuitive and accessible to everyday consumers. Together, they’re building a trading experience that feels native to the next generation of users while taking full advantage of the opportunities emerging on-chain.”
Founded in 2025 by Erlanger, Park and Dharmesena, fomo launched publicly last year and has grown rapidly through community adoption, social sharing, and organic user acquisition. Prior to founding fomo, the pair worked together at decentralized exchange dYdX after starting their careers at Deutsche Bank.
“fomo seems simple but under the surface there is a lot of technical complexity,” said Prashan Dharmesena, co-founder of fomo. “Through behind the scenes wallet generation, key management, gas sponsorship and more fomo takes the burden away from the end consumer.”
“Trading is fundamentally a social behavior and an expression of unique insight,” said Se Yong Park, co-founder of fomo. “A trader with a clear macro conviction should be able to express it through multiple avenues simultaneously—whether that means going long on a commodity, shorting a correlated equity, or purchasing a prediction market contract. In an internet increasingly dominated by automated, synthetic content, active trading represents genuine human conviction and the future of online engagement.
Over time, the company believes distinctions between traditional and on-chain markets will increasingly blur as blockchain infrastructure becomes more integrated into global financial systems.
For more information or to start trading please visit www.fomo.family.
About fomo
fomo is a social-first trading platform building a simpler way to access on-chain markets. The platform enables users to discover assets, follow traders, share positions, and trade across blockchain ecosystems through a single account and balance. By abstracting away the complexity of wallets, chains, gas fees, and routing, fomo makes on-chain trading more accessible to everyday consumers. Founded in 2025 and headquartered in New York, fomo has surpassed 600,000 users and more than $4 billion in trading volume. The company is backed by Index Ventures, Union Square Ventures, and Benchmark.
Amber Moore Amber@moorecom2.com 503.943.9381