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A young crypto startup just hit a $550 million valuation
Fomo, a cryptocurrency trading startup founded in 2025, has raised $75 million in a Series B funding round. Index Ventures led the investment. Other backers included Union Square Ventures, Mark Pincus, Humam Sakhnini, and Kevin Hartz. According to Fortune, the funding values Fomo at $550 million.
Built by crypto industry veterans
Three former members of the dYdX team founded Fomo in 2025. Paul Erlanger, Se Yong Park, and Prashan Dharmasena launched the company to build new crypto trading infrastructure. Their experience at dYdX gives Fomo a strong foundation in the highly competitive digital asset market.
Moreover, Fomo reached a $550 million valuation within about a year of its launch. That rapid growth highlights continued investor demand for crypto trading platforms. At the same time, support from leading venture capital firms and well-known technology executives reflects confidence in the founding team’s vision and execution.
Fomo has not yet disclosed additional details about its products, user growth, or other business metrics.
Source: WEEX via Fortune
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