Fomo funding: who backs FOMO Labs, and what it proves
A question worth asking before you trust an app with money: who is behind it, and who is funding it? For fomo the answer is public. On 22 June 2026, FOMO Labs, Inc. announced a $75 million Series B led by Index Ventures, and disclosed the user and volume numbers behind it.
What did fomo announce?
| Detail | What was announced |
|---|---|
| Round | $75 million Series B |
| Date | 22 June 2026 |
| Lead investor | Index Ventures |
| Also participating | Union Square Ventures and Benchmark, both existing investors |
| Users | More than 600,000 |
| Volume traded | More than $4 billion |
| Company | FOMO Labs, Inc., New York, founded 2025 |
| Stated use of funds | More asset classes, including equities, perpetuals and prediction markets |
Those user and volume figures are the company's own, as of June 2026. We have not found an updated number since, so anyone quoting a bigger figure today is guessing.
Who runs FOMO Labs?
The announcement names three co-founders: Paul Erlanger as chief executive, with Se Yong Park and Prashan Dharmesena. The company is based in New York, and the Terms of Service you agree to when you sign up are governed by New York law. That combination, a named company with a jurisdiction and identifiable founders, is what separates fomo from the anonymous trading tools that appear and vanish; the official addresses to reach it are listed on our fomo family page.
What the funding actually changed
The stated plan was expansion beyond token trading, and the product moved that way within weeks. In June 2026 fomo launched perpetual futures covering crypto, equities, indices, commodities and a SpaceX pre-IPO market, powered by Hyperliquid and Trade[XYZ]. In July 2026 support for Robinhood Chain was reported, adding a sixth network to the app. Prediction markets were named in the announcement but we have not seen a launch post for them, so we do not list them as available.
Does funding mean fomo is safe?
It answers one question and not the other. Institutional backing means a real company with real obligations is behind the app, which lowers the risk that it simply disappears. It says nothing about the two things that actually cost people money here: the tokens you choose, and the fees you pay to trade them.
- Custody is a separate question, covered on our fomo safety page: the wallet is non-custodial via Privy, and fomo has not published an external security audit.
- Cost is published and worth reading before you trade often: 0.50% on most chains, tiers on Solana, on the fomo fees page.
- Market risk does not care who invested. Memecoins can go to zero regardless of the Series B.
How does fomo make money?
From trading fees, not from subscriptions. Every trade pays a percentage, referrers receive a share of it, and that is also how this site is funded when someone signs up through our link. It matters for reading the app honestly: an app that earns per trade has an interest in you trading often, which is exactly why the fee tiers on small orders are worth understanding before you start. If you are new, begin with fomo trading for what the app does, then the sign-up guide for the order of steps.
Fomo funding questions
How much has fomo raised?
The publicly announced round is a $75 million Series B, announced on 22 June 2026 and led by Index Ventures, with existing investors Union Square Ventures and Benchmark participating. fomo has not published a total-raised figure covering earlier rounds.
Who owns fomo?
fomo is operated by FOMO Labs, Inc., a New York company founded in 2025 by Paul Erlanger, who is chief executive, together with Se Yong Park and Prashan Dharmesena. Venture investors hold minority stakes through the funding rounds.
How many people use fomo?
The June 2026 announcement said the app had more than 600,000 users and had processed more than $4 billion in trading volume. fomo has not published an updated figure since, so treat it as a June 2026 number rather than a current one.
Does the funding make fomo safe to use?
It makes the company more credible, not the market safer. Funding says nothing about whether a token you buy holds its value, and fomo has not published a third-party security audit of its wallet architecture.
Is there a fomo token or equity I can buy?
No. The Series B was a private round for venture investors. fomo has not announced a token, and pages offering fomo shares or a fomo token to the public do not match anything the company has published.
Verified 15 September 2026. Figures on this page were checked against these sources on that date. fomo can change fees and features at any time; if something here no longer matches, tell us through the contact page and we will update it.