Fomo Labs: Founders, CEO, Funding, Valuation, Revenue and Careers
Who owns the Fomo Family app: Fomo Labs Inc., founders Paul Erlanger, Se Yong Park and Prashan Dharmasena, $94M raised, $550M valuation, users and jobs.
Key facts
- Company
- Fomo Labs Inc. (United States)
- Founders
- Paul Erlanger (CEO), Se Yong Park, Prashan Dharmasena
- Background
- All three previously engineers at dYdX
- Founded / launched
- 2025 · public launch May 2025
- Total raised
- About $94M across three rounds
- Valuation
- $550M (Series B, June 2026)
- Lead investors
- Benchmark (Series A), Index Ventures (Series B), Union Square Ventures
- Users
- 2.5M+ traders claimed (official site, 2026)
Verified September 20, 2026. Fees and features can change; confirm inside the official app before trading.
Who owns the Fomo Family app?
The Fomo Family app is owned and operated by Fomo Labs Inc., a US company founded in 2025. It is a private, venture-backed startup; it is not owned by Robinhood, Coinbase or any exchange, despite integrations with Coinbase (Apple Pay onramp) and support for Robinhood Chain.
Founders and CEO
Fomo Labs was founded by three engineers who worked together at the decentralised derivatives exchange dYdX:
- Paul Erlanger, co-founder and CEO, the public face of the company in press and podcasts.
- Se Yong Park, co-founder.
- Prashan Dharmasena, co-founder.
Their dYdX background explains the product's focus on execution speed and the later addition of perpetual futures. Interviews with Erlanger (for example on Dealroom) describe the company's view that finance should be social rather than a single "super app".
Funding history
| Round | Date | Amount | Lead and notable investors |
|---|---|---|---|
| Pre-seed | February 2025 | $2M | 140+ angel investors |
| Series A | November 2025 | $17M | Benchmark |
| Series B | June 2026 | $75M | Index Ventures; Union Square Ventures; Benchmark |
Total disclosed funding is roughly $94M. The Series B valued the company at $550M, according to Fortune's report on the round. Angel investors named in coverage include Zynga co-founder Mark Pincus, Eventbrite co-founder Kevin Hartz and Discord CEO Humam Sakhnini.
For Crunchbase, Tracxn or PitchBook profiles, search "Fomo Labs" rather than "fomo", which returns many unrelated companies.
Users, volume and revenue
- Users: the official site claims more than 2.5 million traders. At the Series A in November 2025 the company reported 250,000 users, so the larger figure likely counts registered accounts rather than active traders.
- Volume: the company reported crossing $1.5 billion in cumulative trading volume around the Series A. Volume has grown substantially since with new chains and perps.
- Revenue: Fomo Labs does not publish revenue. Its income comes from per-trade platform fees and the 0.05% perps fee. Third-party estimates should be treated as guesses.
Headquarters
Fomo Labs is a US company. We have not verified a public office address and the team appears to be partly remote. The LinkedIn page is linkedin.com/company/tryfomo.
Careers and jobs at Fomo
Fomo Labs hires through Ashby at jobs.ashbyhq.com/fomo-labs. Roles listed over the past year have included mobile, backend and blockchain engineers, growth and community roles. Beware of recruiters contacting you on Telegram or Discord claiming to hire for Fomo; the official process runs through the Ashby page.
Timeline
- February 2025: $2M pre-seed announced.
- May 2025: public launch on iOS and Android with Solana support.
- September to November 2025: Base, BNB Chain and Monad added; full redesign; TradingView-style chart tools.
- November 2025: $17M Series A led by Benchmark.
- January 2026: Apple Pay onramp via Coinbase, tax tools via Awaken, biometrics.
- April 2026: TradingView partnership; web app launched.
- June 2026: Perpetuals launched via Hyperliquid and Trade.xyz; $75M Series B led by Index Ventures at $550M.
Frequently asked questions
Who is the CEO of the Fomo app?
Paul Erlanger, co-founder of Fomo Labs Inc.
Who made the Fomo app?
Fomo Labs Inc., founded by Paul Erlanger, Se Yong Park and Prashan Dharmasena, former dYdX engineers.
How much is the Fomo app worth?
$550 million as of the June 2026 Series B led by Index Ventures.
When did the Fomo app come out?
May 2025 on mobile; the web app followed in April 2026.
Does Fomo Labs have a Crunchbase page?
Yes, under "Fomo Labs". Funding data there mirrors the rounds listed above.