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Exclusive: Index Ventures, Union Square Ventures back trading app Fomo at $550 million valuation
Two established investors are feeling crypto FOMO. Index and Union Square Ventures have backed the crypto startup Fomo, named after the acronym for “fear of missing out,” the company announced on Monday. Index Ventures led the $75 million Series B fundraise, which valued Fomo at $550 million. Other participants include Zygna cofounder Mark Pincus, Discord CEO Humam Sakhnini, and Eventbrite cofounder Kevin Hartz.
In the doldrums of a crypto down market, it’s rare to see established venture firms that don’t exclusively focus on digital assets lead a fundraise for a crypto startup. Still, Index, which has made its name for bets on non-crypto companies like Figma and Scale AI, isn’t a stranger to the world of blockchain. The Geneva-born firm has backed the stablecoin startup Bridge, which Stripe acquired for $1.1 billion in 2025. Similarly, Union Square Ventures has invested in the blockchain Polygon and crypto developer Matter Labs.
Crypto Social Trading Startup Fomo Raises $75 Million at $550 Million Valuation
Crypto social trading startup Fomo raised US$75 million (AU$107.3 million) in a Series B round led by Index Ventures at a US$550 million (AU$786.5 million) valuation, roughly a year after launch, in a deal that signals renewed investor appetite for consumer-facing crypto products.
Union Square Ventures co-invested alongside existing backer Benchmark, with angel investors including Zynga co-founder Mark Pincus, Eventbrite co-founder Kevin Hartz and Discord chief executive Humam Sakhnini, according to the blog.
The round lifts Fomo’s total disclosed funding to roughly US$94 million (AU$134.4 million).
Related: Australia’s Crypto Travel Rule Kicks In July 1, Triggering Early Bitcoin Withdrawals
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