New York-based trading app fomo said on Monday it has raised $75 million in a Series B led by Index Ventures, with participation from Union Square Ventures and existing investor Benchmark.
The company said it will use the capital to expand into equities, perpetuals and prediction markets while continuing to invest in its trading and social platform.
fomo describes itself as a social-first, cross-chain trading platform that abstracts away wallet setup, key management, gas fees and routing behind a single account and balance. Users can discover assets, follow traders and track open positions via public leaderboards with verified performance data.
The company says it has now surpassed 600,000 users and more than $4 billion in trading volume. At its $17 million Series A in November 2025, led by Benchmark, fomo reported 120,000 users and nearly $700 million in volume.
“fomo seems simple but under the surface there is a lot of technical complexity,” said Prashan Dharmesena, co-founder of fomo. “Through behind the scenes wallet generation, key management, gas sponsorship and more, fomo takes the burden away from the end consumer.”
The company was founded in 2025 by Paul Erlanger, Se Yong Park and Dharmesena. Erlanger and Park previously worked together at decentralised exchange dYdX after starting their careers at Deutsche Bank.
