Fomo, the crypto trading platform that puts social features front and center, has closed a $75 million Series B round. Index Ventures led the raise, which values the company at $550 million. The funding is earmarked for bulking up cross-chain infrastructure — a move that signals where Fomo sees the next growth wave.
Social trading, now with more chains
Fomo lets users follow and copy the trades of top performers, a model that's found a real audience among retail traders who want to piggyback on proven strategies. The platform already supports a handful of blockchains. With this new capital, the team plans to expand that cross-chain backbone — letting users trade assets across networks without manually bridging tokens. For a social trading app, speed and low friction across chains matter a lot. Users don't want to wait for a bridge delay while someone else's trade is already printing.
Index Ventures places a big bet
Index Ventures isn't a name you see every day leading a crypto Series B. The London-based venture firm is known for backing enterprise software and fintech heavyweights, not just flashy consumer apps. Their involvement lends credibility: they're betting that Fomo's combination of social mechanics and cross-chain utility can scale beyond the current user base. The $550 million valuation — not cheap but not insane in this market — suggests investors believe the model has room to run.
What the money buys
Fomo says the $75 million will go directly into engineering and product. Cross-chain infrastructure is notoriously hard to get right; you're dealing with different consensus mechanisms, security models, and liquidity pools. The goal is to make it invisible to the end user. If you're copying a trade on Ethereum, it should land on Solana or Arbitrum without you thinking about it. That's the promise. Delivering it is another matter, but the funding gives Fomo a multi-year runway to try.
The timing isn't bad either. Social trading has had fits and starts in crypto — some platforms flared up and faded. But Fomo has kept growing, and this raise suggests the backers think the current cycle has legs.
No word yet on when the cross-chain upgrades go live. Fomo typically ships in monthly batches, so expect more concrete timelines by late summer.
