Fomo Secures $17M Series A to Upgrade Crypto Trading App
Crypto trading app Fomo has closed a $17 million Series A round led by Benchmark, with participation from around 200 angel investors, including Polygon Labs CEO Marc Boiron, Solana co-founder Raj Gokal and former Coinbase CTO Balaji Srinivasan. Launched in May, Fomo uses Apple Pay for instant account setup, supports cross-chain trading of millions of digital assets, charges a 0.5% trading fee with no gas costs and features built-in social tools to follow and mirror strategies. The new funding will drive platform enhancements—expanding crypto offerings, strengthening security and compliance, optimizing mobile UI, adding advanced trading features, enriching educational resources and extending customer support. Fomo also plans to hire across engineering, marketing and compliance teams and roll out regular updates to boost stability and performance. Despite regulatory uncertainty and growing competition, this capital injection validates Fomo’s user-friendly approach and positions the app for rapid growth.
Neutral
This funding news is positive for Fomo’s growth and feature roadmap but does not directly impact any cryptocurrency’s price. In the short term, it may boost user adoption and trading volume on the platform, yet it lacks an immediate effect on coin markets. Over the long term, enhanced security, lower fees and expanded offerings could support broader market activity, but without a native token, the direct price impact remains neutral.