Fomo has grown from a public beta launched in May 2025 into one of the highest-ranking finance apps in the United States, reaching beyond the crypto market to compete with established banking and payments platforms.
Fomo Breaks Into the U.S. Finance App Charts
Founded by Paul Erlanger and Se Yong Park, Fomo climbed into the top five U.S. finance apps on Apple’s App Store by August 21. The crypto trading app surpassed Cash App and briefly reached third place, ahead of prediction-market competitor Kalshi. It currently ranks among the top 15.
App Store finance rankings are typically dominated by major banks and payment companies rather than crypto-native startups. Fomo’s rise into the top 15 therefore places it alongside brands with significantly longer operating histories and broader mainstream recognition.
Fomo Raises $94 Million in Equity Funding
In November 2025, Fomo closed a $17 million Series A led by Benchmark. Instead of presenting the round to institutional funds, Erlanger and Park created a wishlist of 200 preferred angel investors. A total of 140 investors participated, including Polygon Labs chief executive Marc Boiron, Solana co-founder Raj Gokal and former Coinbase chief technology officer Balaji Srinivasan.
The Series A was followed by a $75 million Series B. By then, Fomo had more than 600,000 users and had processed over $4 billion in trading volume, bringing the company’s total disclosed equity funding to approximately $94 million.
How Fomo Makes Crypto Trading Social
Fomo’s core appeal centers less on technical charts and more on social discovery. Users can see what people they follow are trading in real time, monitor leaderboards and copy trading signals. They can also fund trades instantly through Apple Pay.
The product is designed to make crypto trading feel more like a social media experience than a traditional financial terminal. Fomo supports trading across Solana, Base, BNB Chain, Monad and Robinhood Chain, giving the app exposure across multiple blockchain ecosystems.
The app has earned a 4.6-to-4.8-star rating on Apple’s App Store, based on more than 14,000 reviews. On Google Play, it holds a 4.7 rating and has surpassed one million installs.
Fomo Benefits From Robinhood Chain’s Growth
Fomo’s expansion is closely linked to growing interest in Robinhood Chain, the brokerage’s layer-2 network. The network launched its public mainnet on July 1 and has since become one of the most closely watched efforts to bring retail trading onchain.
Fomo is one of several consumer-focused apps seeking to capture activity on the network. Its growth forms part of a broader wave of “social trading” products built around the idea that following friends, rather than studying charts, can encourage casual users to place their first trades.
Industry observers increasingly view apps such as Fomo as accessible entry points for a new and less experienced generation of retail traders—the same audience that helped Robinhood build its stock-trading business.
Source: cryptonews.net
