Fomo’s $17M Funding Round Signals a Major Crypto Shift, and Here’s Why Benchmark Is Betting Big

In a Nutshell: What You Need to Know

• Major Funding Milestone: The crypto trading app Fomo has successfully closed a $17 million Series A funding round, bringing its total capital raised to $19 million.
• Led by a Top-Tier VC: The round was led by Benchmark, a renowned venture capital firm, marking a significant and somewhat rare foray into the crypto space for the investor.
• Explosive Growth: Since its launch in May 2025, Fomo has seen staggering growth, onboarding over 120,000 users and handling daily trading volumes between $20 million and $40 million.
• Unconventional Strategy: The company brought on an unusually large syndicate of over 140 angel investors, including big names from across the tech and finance industries.

Fomo Secures $17 Million, a Major Milestone for the Young Crypto Platform

In a move that’s turning heads across the tech and crypto worlds, trading app Fomo has just locked down $17 million in a Series A funding round. This isn’t just another funding announcement; it’s a powerful vote of confidence led by Benchmark, one of Silicon Valley’s most respected venture capital firms. The new injection of cash brings Fomo’s total funding to a healthy $19 million.

Since hitting the market in May 2025, Fomo has been on a tear. According to a report by TechCrunch’s Jacquelyn Melinek, the platform has already attracted over 120,000 users. Even more impressively, it’s processing between $20 million and $40 million in trades every single day. Co-founder Paul Erlanger shed light on their fundraising approach, saying, “We knew that every single person would be valuable to us in the business,” which explains the army of angel investors they brought on board. Monitoring such rapid expansion requires powerful tools; for business leaders inspired by Fomo’s metrics, platforms like Databox offer a way to track key performance indicators in real-time, turning raw data into actionable insights.

Benchmark’s Rare Foray Into Crypto and Why This Deal Matters

Benchmark isn’t known for making a lot of noise in the crypto sector, which makes this move particularly noteworthy. TechCrunch described the deal as “an atypical crypto bet for the top-tier VC firm,” highlighting how selective Benchmark has been with its crypto investments. So why Fomo? Chetan Puttagunta, the Benchmark general partner who led the investment, gave a clear answer. “Paul and Se and the entire team have a clear vision to make crypto assets both easy to discover and trade,” he stated. “Their vision is clearly resonating with truly exceptional growth since they launched a few months ago.”

This investment is significant not just for Fomo, but for the broader market. As noted by MLQ.ai, securing such a large investment is a big deal for a new platform, especially when major venture capital firms have shown mixed feelings about crypto lately. It suggests that top investors are still willing to make big bets on consumer-focused crypto products that show real traction, a trend seen across the tech industry where firms like Anthropic have also secured massive funding rounds from prominent investors.

Inside Fomo’s Unconventional Fundraising

Fomo took a road less traveled for its fundraising. Instead of relying on a small group of large investors, the founders assembled a massive group of angel investors. Coverage from Ventureburn mentions that over 200 investors participated in the round, creating an unusually broad base of support for such an early-stage company.

Co-founder Se Yong Park told TechCrunch about their ambitious outreach. “There’s a lot of people we never got to, like Elon Musk…but of the ones who did take their call, less than a handful said no,” he recalled. This overwhelming “yes” rate speaks volumes about the founders’ vision and the product’s early success.

What Makes Fomo’s Platform Stand Out?

In a crowded field of crypto apps, Fomo seems to have found its secret sauce. According to a company spokesperson, the app “offers users the ability to trade millions of crypto assets across blockchains with minimal friction and integrated social features to follow top traders.” This blend of accessibility and social discovery helps demystify crypto trading for everyday users, a crucial step in driving mainstream adoption, much like how stablecoins are quietly rewiring global finance.

The platform isn’t just attracting users; it’s generating serious revenue. Paul Erlanger confirmed the financial momentum, stating, “We’re now doing about $20-$40 million in volume a day, and about $150,000 in revenue a day.”

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What’s Next for Fomo

With $17 million in the bank, Fomo is gearing up for its next phase of growth. The founders have confirmed plans to expand the platform by integrating more assets from other blockchains. Their ultimate goal is even more ambitious: to build an all-in-one platform where users can trade not just crypto, but also engage with prediction markets and even traditional securities.

To help steer this growth, Benchmark’s Chetan Puttagunta will be joining Fomo’s board of directors, a move that reinforces the VC firm’s active role in the company’s future.

Why Fomo’s Success and Benchmark’s Bet Signal a Shift

Fomo’s story is more than just a successful funding round; it’s a potential indicator of a changing tide. At a time when the venture capital world has been cautious about crypto, Benchmark’s decision to lead such a substantial round in a young consumer app is a powerful statement. It suggests that the appetite for innovative, user-friendly crypto platforms is back, provided they can show real, tangible growth.

The success of Fomo underscores a simple truth: even in a complex market, a product that genuinely solves user problems—in this case, simplifying crypto discovery and trading—can achieve incredible momentum. As Benchmark puts its money behind Fomo, the rest of the industry will be watching very closely.