Fomo Secures $17 Million Series A Led By Benchmark With Support From 140 Angel Investors

Fomo, a consumer crypto trading app founded by Paul Erlanger and Se Yong Park, has raised a $17 million Series A led by Benchmark, bringing its total funding to $19 million. The round is notable given Benchmark’s limited crypto exposure and follows an unconventional fundraising strategy in which the founders secured backing from about 140 angel investors. Since launching in May, Fomo has rapidly scaled, offering users the ability to trade millions of crypto assets across blockchains with minimal friction and integrated social features to follow top traders. The product’s addition of Apple Pay fueled a surge in adoption, contributing to strong growth of over 120,000 users and up to $40 million in daily trading volume as the company pushes toward its goal of becoming an all-in-one platform for assets spanning crypto, prediction markets, and even traditional securities. FOUNDERS: Paul Erlanger, Prashan Dharmesena, & Se Yong Park INVESTORS: Benchmark, Archetype, Coinbase Ventures, Sound Ventures, USV, FalconX, Monad, Nobi Ventures, Shrey Shahi, Jack Brody, Harry Stebbings, Hugo Barra, Geoff Charles, Glen Coates, Tomer Cohen, Jag Duggal, Gustav Söderström, Will Wu, Luca Netz, Brian Jung, Amit Kukreja, Jacob Horne, Ivan Soto-Wright, Sabrina Hahn, David Luan, Henrik Werdelin, Madhi Raza, Mike Karnjanaprakorn, Will Price, Lucas Sheiner, Nikhil Ramen, Austin Green, Brandon Cigri ROUND: Series A AMOUNT: $17,000,000 HQ: #NewYork #NY #NewYorkCity #NYC #VentureCapital #Fomo #ShreyShahi #JackBrody #HarryStebbings #Benchmark #Archetype #CoinbaseVentures #SoundVentures #USV #FalconX #Monad #NobiVentures #PaulErlanger #SeYongPark #TradedVC