Consumer cryptocurrency trading app fomo announces it raises $75 million in a Series B funding round. Multiple reports say the round is valued at $550 million and is led by Index Ventures, with participation from Union Square Ventures (USV) and other investors. Fortune and other outlets note fomo has prior fundraising, including an earlier round led by Benchmark in which the company raised $17 million.
In a separate detail cited by PYMNTS, fomo says the financing comes as the company reaches more than $4 billion in trading volume on its year-old platform. PYMNTS also reports that more than 68,000 users have completed their first trade on the platform. The reports do not provide additional information on how the new capital will be used, nor do they list specific terms beyond the round size and valuation.
Overall, the coverage aligns on the main points: a $75 million Series B, a $550 million valuation, leadership by Index Ventures, and continued progress on trading activity and user adoption since launch.
