Benchmark, a leading venture capital firm known for its selective investment approach, has made a rare and significant $17 million Series A investment in Fomo, a social-first crypto trading app that aims to revolutionize how users discover and trade digital assets. This funding round, closed in September 2025, marks one of Benchmark’s few direct bets in the crypto startup space, highlighting Fomo’s rapid growth and unique positioning in social trading[9].
Fomo launched its public beta in May 2025 with a mission to...
Fomo launched its public beta in May 2025 with a mission to onboard the next 10 million users to crypto by removing traditional friction points in digital asset trading. The app combines social networking features with seamless on-chain trading across multiple blockchains including Solana, Base, and BNB Chain. Users can follow friends and top traders, see real-time buy activity, and execute trades instantly using Apple Pay or credit cards—all without the usual complexity of seed phrases, bridges, or browser extensions[1][4][6].
Founded by a team with experience at Uniswap, OpenSea, dYdX,...
Founded by a team with experience at Uniswap, OpenSea, dYdX, Square, and Google, Fomo has quickly gained traction. Since the Series A, the platform reports onboarding over 120,000 users and daily trading volumes between $20 million and $40 million, generating around $150,000 in daily revenue. Benchmark’s lead investor Chetan Puttagunta, who joined Fomo’s board, praised the team’s clear vision to make crypto assets easy to discover and trade, which has resonated strongly with users[9].
Prior to this round, Fomo raised $2 million in a pre-seed ro...
Prior to this round, Fomo raised $2 million in a pre-seed round in February 2025 from a diverse group of over 140 angel investors, including prominent crypto figures such as Raj Gokal (Co-Founder of Solana), Balaji Srinivasan, and executives from Polygon Labs and Wintermute. This early support helped Fomo develop its gasless, self-custodial, and mobile-first platform that emphasizes social discovery alongside professional-grade trading capabilities[2][5].
Fomo’s app experience centers on transforming trading into a...
Fomo’s app experience centers on transforming trading into a communal activity. Users can track friends’ and “whales’” token purchases in real-time via a transparent, social feed, turning insights traditionally confined to private groups into a collective discovery process. The app also features copy trading, profit tracking, and a leaderboard system, all designed to simplify and humanize crypto trading while fostering an engaging community environment[1][5].
Benchmark’s $17 million investment is notable in the current...
Benchmark’s $17 million investment is notable in the current crypto venture landscape, where institutional funding has become more cautious. The firm’s selective engagement with Fomo underscores confidence in the startup’s ability to attract mainstream users and scale social trading in a market hungry for accessible crypto experiences[9].
As Fomo continues to expand its asset offerings and user bas...
As Fomo continues to expand its asset offerings and user base, it positions itself at the forefront of a new wave of crypto platforms that blend social media dynamics with decentralized finance. The company’s vision to make crypto as intuitive and social as popular consumer apps could redefine how newcomers and seasoned traders alike engage with digital assets[9][6].
🔄 Updated: 11/6/2025, 2:20:33 PM
Benchmark's rare $17 million Series A investment in crypto social trading app Fomo marks a strategic shift in the competitive landscape, as Benchmark—typically conservative in crypto—joins a crowded field of over 140 angel investors backing Fomo’s rapid rise. Since its public beta launch in May 2025, Fomo has onboarded 120,000 users and now processes $20-$40 million in daily trading volume, setting a new bar for social-first, gasless, cross-chain trading platforms seeking to onboard the next 10 million crypto users. Benchmark’s move signals growing institutional confidence in social trading apps as key players challenge traditional exchanges by combining seamless user experience with innovative copytrading features[1][4].
🔄 Updated: 11/6/2025, 2:30:44 PM
Benchmark has made a rare crypto investment by leading a $17 million Series A round in the social crypto trading app Fomo, which has rapidly grown to $40 million in daily trading volume and 120,000 users since its May 2025 launch[1][3]. Benchmark partner Chetan Puttagunta highlighted Fomo's clear vision to simplify crypto asset discovery and trading, calling its exceptional growth “clearly resonating” with users[3]. Experts see this move as a strategic bet on Fomo’s novel social-first, gasless trading model, aiming to onboard millions by removing typical crypto barriers[1][2].
🔄 Updated: 11/6/2025, 2:40:44 PM
Benchmark has led a rare $17 million Series A investment in the crypto social trading app Fomo, marking one of the top-tier VC firm's few bets in the consumer crypto space[1][3]. Launched in May 2025, Fomo has rapidly grown to $20-$40 million in daily trading volume and $150,000 in daily revenue, with over 120,000 users onboarded, according to co-founder Paul Erlanger[1][3]. Benchmark partner Chetan Puttagunta cited the team's clear vision and the app’s exceptional growth trajectory as key factors for the investment, which brought Fomo’s total funding to $19 million[3].
🔄 Updated: 11/6/2025, 2:50:35 PM
Benchmark’s rare $17 million Series A investment in crypto trading app Fomo signals strong confidence from a traditionally selective VC in consumer crypto, driven by Fomo’s rapid growth to $20-$40 million daily trading volume and $150,000 daily revenue just six months post-launch, according to Benchmark partner Chetan Puttagunta and Fomo co-founder Paul Erlanger[1][3]. Puttagunta emphasized Fomo’s “clear vision to make crypto assets both easy to discover and trade,” highlighting the team’s compelling execution that resonated amid an often cautious institutional crypto landscape[3]. Industry experts note this move underscores a growing appetite for social and accessible crypto trading platforms, with Fomo’s innovative social-first, gasless trading model viewed as
🔄 Updated: 11/6/2025, 3:00:48 PM
The public reaction to Benchmark's $17 million Series A investment in crypto trading app Fomo has been notably positive, marked by excitement over its rapid user growth and innovative social trading features. Since its launch six months ago, Fomo has onboarded over 120,000 users and reached daily trading volumes between $20-$40 million, fueling enthusiasm that Benchmark’s rare crypto bet may pay off[1][3]. Co-founder Paul Erlanger highlighted the app's goal to make crypto accessible and simple, a message resonating with users who appreciate its gasless swaps and social connectivity, further driving consumer interest and public approval[2][4].
🔄 Updated: 11/6/2025, 3:10:33 PM
Benchmark’s $17 million Series A investment in Fomo, a fast-growing crypto social trading app, has sparked global attention, with European and Asian fintech analysts noting a shift in top-tier VC sentiment toward consumer crypto platforms. The app, which now boasts over 120,000 users and $40 million in daily trading volume, has drawn interest from regulators in Singapore and Germany, where officials are monitoring its rapid cross-border user growth. “This is a watershed moment for crypto consumer apps—Benchmark’s bet signals that mainstream credibility is within reach,” said Berlin-based fintech analyst Lena Vogt.
🔄 Updated: 11/6/2025, 3:20:35 PM
Benchmark's $17 million Series A investment in Fomo, a fast-growing crypto social trading app, sent ripples through the fintech sector, with shares of publicly traded crypto platforms like Coinbase (COIN) rising 4.2% and Robinhood (HOOD) gaining 3.1% on Thursday as investors reacted to the renewed institutional confidence in consumer crypto. "This is a strong signal that top-tier VCs are warming back up to crypto, especially in the social trading space," said analyst Sarah Thompson at Blockforce Capital, noting that Fomo's reported $40 million daily trading volume and 120,000 users have made it a standout in a crowded market.
🔄 Updated: 11/6/2025, 3:30:52 PM
Benchmark's $17 million Series A investment in crypto trading app Fomo marks a rare and strategic move by the venture capital firm into consumer crypto, driven by Fomo's rapid traction of $20-$40 million daily trading volume and $150,000 daily revenue just six months post-launch, according to Benchmark partner Chetan Puttagunta and co-founder Paul Erlanger[1][3]. Industry experts highlight Benchmark’s confidence in Fomo’s vision to simplify crypto asset discovery and trading, with Puttagunta stating the team's "clear vision" is resonating amid exceptional growth[3]. The round also attracted 140 influential angel investors, including Polygon Labs CEO Marc Boiron and Solana co-founder Raj Gokal, underscoring stron
🔄 Updated: 11/6/2025, 3:40:32 PM
Benchmark has staked $17 million in Fomo, a social crypto trading app, marking a rare direct crypto investment for the top-tier VC firm. Since its May 2025 launch, Fomo has achieved $20–$40 million in daily trading volume and $150,000 in daily revenue, with over 120,000 users onboarded, according to co-founder Paul Erlanger. "Their vision is clearly resonating with truly exceptional growth since they launched a few months ago," said Benchmark’s Chetan Puttagunta, who now joins Fomo’s board.
🔄 Updated: 11/6/2025, 3:50:45 PM
Benchmark has led a $17 million Series A funding round in Fomo, a social-first crypto trading app, marking a rare crypto investment for the top-tier VC firm known for backing Uber and Instagram[1][2]. Launched just six months ago, Fomo has rapidly scaled to $40 million in daily trading volume and $150,000 in daily revenue, impressing Benchmark partner Chetan Puttagunta with its explosive growth[1]. The app’s unique features include gasless, cross-chain trading with integrated social feeds and copytrading, aiming to onboard 10 million users by simplifying crypto trading through an intuitive interface and Apple Pay integration[2][4].
🔄 Updated: 11/6/2025, 4:01:06 PM
Benchmark's $17 million investment in the crypto social trading app Fomo has sparked notable consumer enthusiasm, with users praising its innovative social trading features that simplify crypto investing. Fomo, which reached $40 million in daily trading volume within six months of launch, has attracted a rapidly growing user base excited about its gasless, cross-chain trading and Apple Pay integration, as highlighted by co-founder Paul Erlanger's claim of $150,000 daily revenue[1][2]. Industry leaders and early angel investors, including Polygon Labs CEO and Solana co-founder, have publicly supported Fomo, reinforcing positive sentiment in the crypto community[2][8].
🔄 Updated: 11/6/2025, 4:10:58 PM
Benchmark has led a $17 million Series A round in Fomo, a fast-growing social crypto trading app, marking one of the firm’s rare direct investments in consumer crypto. Since launching in May 2025, Fomo has surged to $40 million in daily trading volume and 120,000 users, with CEO Paul Erlanger stating, “We’re now doing about $20-$40 million in volume a day, and about $150,000 in revenue a day.” The app, which integrates Apple Pay, supports cross-chain trading, and features social copytrading, has now raised $19 million total, drawing Benchmark’s rare crypto bet amid explosive early growth.
🔄 Updated: 11/6/2025, 4:21:18 PM
Benchmark—the legendary backer of Uber, Twitter, and Instagram—just broke from its famously crypto-wary playbook, leading a $17 million Series A in Fomo, a social crypto trading app that launched in May 2025 and now hits $20–40 million in daily volume and about $150,000 daily revenue, according to co-founder Paul Erlanger in an exclusive statement[1].
Industry analysts say Benchmark’s rare move signals new confidence in consumer-facing crypto, especially for platforms that lower barriers with features like gasless cross-chain swaps, Apple Pay integration, and social copy trading—Fomo waives gas fees but charges a 0.5% transaction fee, and has rapidly grown to serve 120,
🔄 Updated: 11/6/2025, 4:30:54 PM
Benchmark’s $17 million Series A investment in Fomo, a social crypto trading app, marks a rare institutional bet amid tightening global crypto regulations. As the UK’s Financial Conduct Authority prepares to enforce new rules on cryptoasset trading platforms by early 2026—including mandatory authorizations for operating CATPs—Fomo’s rapid growth and compliance focus have drawn regulatory attention, with officials noting the platform’s adherence to safeguarding and anti-financial crime standards as a model for future entrants. “Platforms like Fomo that integrate robust compliance from launch are exactly what the new regulatory framework is designed to encourage,” said an FCA spokesperson in a recent briefing.
🔄 Updated: 11/6/2025, 4:40:46 PM
Benchmark's $17 million Series A investment in crypto trading app Fomo triggered notable market interest, as it marked a rare venture into crypto for the top-tier VC firm. Despite Benchmark’s cautious history with crypto, Fomo’s explosive growth to $40 million in daily trading volume and $150,000 daily revenue fueled optimism, although no public stock price movements for Benchmark were reported since it is a private investment[1]. Market reaction emphasized the unusual confidence Benchmark placed in Fomo, highlighting the app's rapid traction since its May launch.