October 13-15, 2026<\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\nThe angels liked their idea of a super app that gives consumers access to\u00a0every crypto asset\u00a0ever (millions of them),\u00a0available on any blockchain, with, they promise,\u00a0no technical friction.\u00a0The app also has a social\u00a0component\u00a0baked into it, where users can follow\u00a0friends and\u00a0leaders they respect\u00a0to\u00a0see\u00a0their trades.\u00a0<\/p>\n
While Fomo doesn\u2019t yet have every asset from every blockchain available, the founders said they\u00a0are\u00a0on track to\u00a0be close to that goal in six months. And among the millions\u00a0of assets\u00a0they do offer today, users can trade everything\u00a0from\u00a0major coins like Bitcoin, Ethereum,\u00a0Solana\u00a0to meme coins and altcoins, they say.\u00a0\u00a0<\/p>\n
The ultimate vision is\u00a0to one day\u00a0allow consumers to trade all kinds of other assets on the app, from prediction markets to\u00a0standard securities like\u00a0bonds.\u00a0<\/p>\n
A\u00a0month after\u00a0Fomo\u2019s\u00a0May launch,\u00a0the founders\u00a0added a feature that dramatically changed their company\u2019s trajectory:\u00a0support\u00a0for Apple Pay. This essentially let users download the app and quickly start trading.\u00a0<\/p>\n
\u201cWe saw a massive influx of users and revenue,\u201d Erlanger said. Fomo\u00a0instantly\u00a0soared to\u00a0about $150,000\u00a0in revenue per week and\u00a0$3\u00a0million in\u00a0volume\u00a0a day, the founders said.\u00a0<\/p>\n
The app collects\u00a0transaction fees on each trade of 0.50% (with a minimum fee of $0.95 for transactions on Solana, and no minimum fee on other, less-expensive blockchains like Base and BNB Chain). But\u00a0it doesn\u2019t\u00a0make users pay so-called \u201cgas fees,\u201d or the\u00a0fees\u00a0blockchains\u00a0charge to process transactions.\u00a0That\u2019s\u00a0a real selling point for users interested in holding the major coins, Park said.\u00a0<\/p>\n
Their\u00a0many-angels strategy paid off because\u00a0not one but\u00a0three people reached out to Benchmark\u00a0early-stage\u00a0investor\u00a0Chetan\u00a0Puttagunta\u00a0to offer an introduction,\u00a0Puttagunta\u00a0told TechCrunch.\u00a0<\/p>\n
Puttagunta\u00a0was a long-shot choice for a lead investor\u00a0of the Series A round\u00a0that Erlanger and\u00a0Park\u00a0were actively pursuing.\u00a0Benchmark\u00a0is selective\u00a0with its picks and\u00a0doesn\u2019t\u00a0invest much in crypto startups. It backed\u00a0Chainalysis\u00a0in 2018, along with\u00a0Toncoin\u00a0and a few others.\u00a0\u00a0<\/p>\n
But\u00a0Puttagunta\u00a0(who\u2019s\u00a0backed\u00a0such companies as\u00a0Elastic, Cursor,\u00a0Manus\u00a0and\u00a0LangChain) saw Fomo\u2019s fast growth and was convinced to take a chance, and a board seat.\u00a0\u00a0<\/p>\n
\u201cPaul\u00a0and Se and the entire team have a clear vision to make crypto assets both easy to discover and trade,\u201d\u00a0Puttagunta\u00a0said.\u00a0\u201cTheir vision is clearly resonating with truly exceptional growth since they launched a few months ago.\u201d\u00a0\u00a0<\/p>\n
Benchmark was the only institutional check the founders took, with the rest of the round going to existing angels and new ones.<\/p>\n
So far, it looks like Benchmark\u2019s bet could pay off. Since the round closed in September,\u00a0Fomo\u00a0has added more assets from more blockchains to its app and has seen growth go even crazier.\u00a0The founders say they have onboarded over 120,000 users.\u00a0\u201cWe\u2019re now doing about $20-$40 million in volume a day, and about $150,000 in revenue a day,\u201d Erlanger said.\u00a0<\/p>\n<\/div>\n
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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Paul\u00a0Erlanger and Se Yong Park, co-founders of\u00a0consumer\u00a0crypto trading app Fomo, took an unusual route to raising capital that is paying off for them. Their app launched in May and they just announced a $17 million Series A round led by Benchmark \u2014 an atypical crypto bet for the top-tier VC firm \u2014 bringing total funding\u00a0to […]<\/p>\n","protected":false},"author":1,"featured_media":203570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":{"0":"post-203569","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/203569","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=203569"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/203569\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/203570"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=203569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=203569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=203569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}