Fomo, a social-first trading platform that simplifies access to on-chain markets, has raised $75m in a Series B round led by Index Ventures, with participation from Union Square Ventures and existing backer Benchmark.
The capital injection comes as major legacy exchanges, including the NYSE and NASDAQ, pursue blockchain-based asset issuance, signalling a broader shift in global financial market infrastructure. Despite this momentum, on-chain participation remains out of reach for most consumers, who must contend with non-custodial wallet management, fragmented blockchains, volatile gas fees, and complicated token bridges, barriers that have historically benefitted digital asset-native users over mainstream investors.
Fomo intends to deploy the fresh funding to broaden its asset offering, adding equities, perpetuals and prediction markets, while continuing to develop its trading and social platform.
The New York-headquartered company, founded in 2025 by Paul Erlanger, Se Yong Park and Prashan Dharmesena, launched publicly last year and has since attracted more than 600,000 users and facilitated over $4bn in trading volume.
Fomo's platform addresses the complexity of on-chain trading by consolidating liquidity, automating transaction routing, and offering straightforward onboarding through methods such as Apple Pay.
Beyond execution, fomo positions its social layer as central to the platform's value proposition. Users can browse trending assets, follow high-performing traders, monitor open positions, and view real-time profit-and-loss data through public leaderboards, replacing the unverifiable screenshots common on traditional social media. The platform's creator ecosystem has grown considerably, with several prominent fomo content creators accumulating more than 100,000 followers within a year of launch.
Fomo co-founder and CEO Paul Erlanger said, '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.
'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.'
Index Ventures partner Julia Andre said, 'Financial markets are going through a major infrastructure transition, but what stood out to us about fomo was the team behind it.
'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.'