Benchmark leads Fomo’s $17 million Series A as the fast-growing crypto app chases a bigger play
Fomo has raised $17 million in a Series A led by Benchmark, a rare crypto wager for the storied venture firm. The round lifts Fomo’s total funding to $19 million and comes on the back of sharp early traction. Since launching in May 2025, the trading app has added more than 120,000 users and is seeing daily volume between $20 million and $40 million, with plans to expand far beyond basic crypto trading.
- Series A: $17 million, bringing total raised to $19 million
- Lead investor: Benchmark, with a board seat for general partner Chetan Puttagunta
- User growth: 120,000+ users since May 2025
- Daily volume: $20 million to $40 million, and about $150,000 in daily revenue
- Investor base: 140+ angels backing the company’s consumer-first approach
Why does Benchmark’s bet matter now?
Benchmark does not jump into many crypto deals, which is why this one stands out. As TechCrunch reported, the firm has been selective in the category. General partner Chetan Puttagunta, who is joining Fomo’s board, pointed to a simple thesis. Make crypto assets easy to find and easy to trade, then get out of the user’s way. The early numbers suggest that pitch is landing.
How fast is Fomo growing?
The app went live in May 2025 and quickly crossed 120,000 users. Reporting by TechCrunch puts daily trading between $20 million and $40 million. Co-founder Paul Erlanger has said revenue is tracking around $150,000 a day alongside that volume. For operators watching metrics like these, keeping a tight read on top-line volume, conversion, and retention is key. Data tools such as Databox can help teams turn live KPIs into faster decisions.
How did Fomo pull together its investor syndicate?
Unusually, the company added a very wide set of angel investors to the cap table. Coverage from Ventureburn notes that more than 200 investors took part across the financing. Co-founders Paul Erlanger and Se Yong Park went broad on purpose. As Park told TechCrunch, they called as many potential backers as they could. Very few said no. The result is a diverse bench of operators and builders who can open doors for a consumer product that spreads through networks.
What makes Fomo different in a crowded crypto app market?
Fomo pitches a simple idea. Trade across many blockchains with minimal friction while following top traders and strategies. That blend of cross-chain access and social discovery is where the team believes mainstream users win. It mirrors how social investing helped apps like eToro and Robinhood bring retail investors into complex markets. For a wider backdrop on where consumer crypto is heading, see how stablecoins and tokenized assets are quietly rewiring global finance.
On the business side, Fomo’s early revenue shows the model can scale when liquidity and engagement show up together. The team says they are already processing tens of millions in daily volume, with revenue following suit.
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What will Fomo build next?
With fresh capital, the roadmap includes adding more assets from additional blockchains, plus new types of markets. The founders have talked about an all-in-one hub where people trade crypto, explore prediction markets, and, over time, connect to traditional securities. Benchmark’s board seat signals hands-on support as the company scales product and compliance.
Does this signal a broader shift in crypto investing?
It might. Big venture firms have been cautious with crypto in recent cycles, but clear consumer traction can still unlock capital. As MLQ.ai noted, the size and source of this round are noteworthy for a young platform. It fits a wider pattern. When products show undeniable usage and growth, investors lean in. We have seen the same dynamic in AI, where Anthropic’s mega round underlined that momentum still attracts capital even in choppy markets.
Bottom line
Fomo’s early surge and Benchmark’s backing point to a simple story. Make crypto easier, faster, and more social for everyday users, and adoption can follow. With capital in the bank and a broad network of angels, Fomo now has to turn early heat into durable product leadership.
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FAQ
What is Fomo and what did it raise?
Fomo is a consumer crypto trading app. It raised a $17 million Series A led by Benchmark, bringing total funding to $19 million.
Who led Fomo’s Series A and why is that notable?
Benchmark led the round. The firm rarely backs crypto startups, so its participation and a board seat are strong signals of conviction.
How fast is Fomo growing?
Since launching in May 2025, Fomo has surpassed 120,000 users and is processing about $20 million to $40 million in daily trading volume.
How does Fomo make money?
Fomo earns revenue alongside trading activity. The company has cited roughly $150,000 in daily revenue tied to its current volume.
Why did Fomo include so many angel investors?
The founders assembled a broad syndicate to tap operator expertise and distribution. Coverage notes more than 140 angels backed the company.
What features set Fomo apart?
Cross-chain trading with low friction, plus social discovery to follow top traders and strategies. That mix aims to make crypto simpler for mainstream users.
What is next on Fomo’s roadmap?
More assets across more blockchains, plus new market types. The team has discussed adding prediction markets and, over time, connections to traditional securities.
Is Fomo available worldwide?
Availability can vary by region and local rules. Check the app for supported locations and compliance requirements in your area.
