Crypto trading app Fomo raises $75 million led by Index Ventures, targeting expansion into tokenized assets and derivatives.
Crypto trading platform Fomo has closed a $75 million Series B funding round, led by Index Ventures with participation from Union Square Ventures. The round values the company at $550 million, reflecting growing investor interest in onchain trading infrastructure.
Founded by former dYdX employees, Fomo aims to streamline onchain trading and broaden its offerings beyond cryptocurrencies to include tokenized stocks, derivatives, and other blockchain-based assets. The funding follows increased demand for decentralized trading solutions amid regulatory scrutiny of traditional crypto exchanges.
The capital will support product development and expansion as the company seeks to capture market share in the evolving digital asset space.