fomo, the social-first on-chain trading app founded in 2025 by former dYdX engineers Paul Erlanger, Se Yong Park, and Prashan Dharmesena, has raised $75 million in a Series B led by Index Ventures, with participation from Union Square Ventures and existing backer Benchmark, at a $550 million valuation, bringing total funding to approximately $94 million. The platform has surpassed 625,000 users, $4 billion in trading volume, and 110 million social interactions since launch, with 68,000 users making their first crypto purchases via Apple Pay. fomo strips away blockchain complexity — wallets, gas fees, bridges — and replaces it with a social trading feed, public leaderboards with verifiable P&L, and support for Solana, Base, BNB Chain, and Monad, with perpetuals added in June via Hyperliquid and equities and prediction markets planned as near-term additions.
On-Chain Trading App Fomo Raises $75m
