Fomo, the innovative crypto trading app, has successfully secured $17 million in a Series A funding round led by the venture capital firm Benchmark. This funding round has elevated the total capital raised by Fomo to $19 million, a significant milestone for the recently launched platform.
The funding round saw participation from over 200 angel investors, including notable industry experts such as Balaji Srinivasan, Marc Boiron from Polygon Labs, and Raj Gokal of Solana. Benchmark’s involvement marks a pivotal moment, as it is the firm’s first major foray into the consumer crypto space since 2018, demonstrating strong confidence in Fomo’s growth trajectory and expanding user base.
Fomo’s founders, Paul Erlenjger and Se Young Park, have taken an unconventional approach to raising capital. Instead of pursuing traditional venture rounds, they opted to connect directly with individual investors. The founders handpicked a list of 200 potential backers, emphasizing those with both capital and expertise in the crypto and technology sectors. After numerous calls and meetings, they garnered commitments from 140 of these individuals, establishing a formidable network that embodies a shared belief in Fomo’s vision. Notably, three of these angel investors later facilitated an introduction to Benchmark, which led to this significant institutional funding.
Since its launch in May 2025, Fomo has garnered impressive attention, amassing over 120,000 users and achieving daily trading volumes between $20 million and $40 million. The platform uniquely allows users to trade across multiple blockchains without incurring gas fees— a rare feature in the crypto trading landscape. Instead, Fomo charges a flat 0.5% transaction fee, simplifying user costs. Enhancing user experience further, Fomo offers social trading functionalities, enabling users to observe and emulate the strategies of seasoned traders.
To promote accessibility, Fomo integrated Apple Pay just a month post-launch, enabling users to fund their accounts almost instantly and attracting a broader audience of retail traders.
Benchmark’s decision to lead this funding round signals a resurgence of interest in consumer-focused crypto projects. After several years of cautious investment, Benchmark’s support reflects its confidence in Fomo’s strategy and market potential. Partner Chetan Puttagunta highlighted the attractiveness of the app’s straightforward design and robust growth metrics, labeling it as one of the few crypto products primed for mass adoption.
The new funding will enable Fomo to broaden its operations across more blockchain platforms and asset classes. The company’s founders are focused on supporting an expanded array of tokens and upcoming financial products, including prediction markets and tokenized securities. Additionally, development teams are working on enhancing analytics and educational tools to create a more transparent and user-friendly experience for newcomers to digital assets. Co-founder Se Young Park noted that the mission remains to “make crypto easy enough for anyone to use daily.”
Within the crowded crypto trading app market, Fomo distinguishes itself with its blend of usability, social features, and robust investor backing. Analysts suggest that this recent funding will allow Fomo to scale more rapidly than many of its competitors. The platform’s ability to waive gas fees and provide seamless payment options enhances its appeal to retail users. Backers’ extensive networks may also help Fomo secure vital listings, partnerships, and marketing support.
As retail crypto trading volumes maintain momentum despite market volatility, Fomo’s commitment to accessibility positions it well within the evolving landscape. With the latest funding, Fomo plans to expand its team and product offerings, actively recruiting engineers, marketers, and compliance experts to fuel this growth. Users can anticipate a series of updates and additional asset support in the ensuing months, as the founders believe that a concentrated focus on design and trust will further differentiate Fomo from its rivals.
Fomo’s unique network of angel investors also functions as an informal advisory board, providing strategic guidance and risk management support. With a solid foundation and robust backing, Fomo is well-positioned to emerge as a leading player in the retail crypto trading market, promising to innovate and enhance the trading experience for its users.
