Fomo lands $75M at $550M valuation, proving the urge to copy-trade is very on-brand 🚀

Social trading platform Fomo has closed a $75 million Series B funding round led by Index Ventures at a $550 million valuation, the company announced Monday. Union Square Ventures and existing investor Benchmark also participated, alongside angel investors Zynga co-founder Mark Pincus, Eventbrite co-founder Kevin Hartz, Discord CEO Humam Sakhnini, Nexos AI co-founder Tomas Okmanas and others.

Fomo allows users to trade assets across multiple blockchains without manually bridging funds or handling gas fees. The company said it has attracted more than 625,000 traders since launching a year ago, generating $4 billion in trading volume and 110 million social interactions. The platform said more than 68,000 users made their first cryptocurrency purchase using Apple Pay, representing roughly $25 million in transaction volume.

The raise adds to a growing list of crypto venture deals in 2026. According to RootData, crypto startups raised $4.1 billion across 147 funding rounds during the second quarter. On June 2, the company said it had surpassed $2 million in referral fees paid to users.

On June 11, Fomo launched perpetual futures contracts powered by Hyperliquid for users outside the United States. Crypto research firm Delphi Digital said in a December X post that the platform's social features may be helping attract users by making trading feel "more like scrolling a feed than sitting at a terminal," and added, "In November, @fomo_family generated more monthly fees than Moonshot, despite being a younger product with lower fees."

Other crypto exchanges offering copy-trading features include Binance, Bybit, OKX, Bitget, BingX, MEXC, Gate.io, KuCoin, Phemex and BitMart.