Crypto social trading and token discovery platform Fomo has raised $75 million in a Series B funding round. The company was valued at $550 million.
Cointelegraph reported on June 22 that Index Ventures led the round. Union Square Ventures and existing investor Benchmark also participated.
Fomo offers a service that allows users to trade assets across multiple blockchains. Users do not need to bridge funds themselves or handle gas fees separately. It also supports a feature that lets users view other users' trades in real time and execute similar trades.
Fomo said it has secured more than 625,000 traders in a year since launch. Cumulative trading volume was $4 billion and social interactions totalled 110 million. The company said more than 68,000 users bought cryptocurrency on the platform for the first time using Apple Pay.
Fomo has also recently moved to expand its services. On June 11, it launched Hyperliquid-based perpetual futures contracts for users outside the United States.
Chi-gyu Hwang
delight@d-today.co.kr