The Twenty Minute VC (20VC) · Saturday, June 27, 2026
Paul Erlanger, CEO of Fomo, announced their Series B funding round of $75 million at a $550 million valuation, with leadership from Index and Fred Wilson at USV. The company, which offers a mobile trading app for on-chain assets with plans to expand to equities and perpetuals globally, previously had its entire team forgo salary for the first eight months of building.
“They've just announced a 75 million dollar Series B at a 550 million dollar valuation, led by Index and Fred Wilson at USV.”
“For the first eight months of building the business, none of the core team members took any salary.”
“Fomo is a mobile trading app. Right now, it's mostly on-chain assets, meaning like on-chain native assets, Bitcoin, Ethereum, attention based assets, etcetera. But we're soon going to launch globally access to equities and perpetuals, non-US obviously.”