Why Benchmark made a rare crypto bet on trading app Fomo, with $17M Series A

Cristiana Gigina

Paul Erlanger and Se Yong Park, co-founders of consumer crypto 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 — an atypical crypto bet for the top-tier VC firm — bringing total funding to $19 million. Instead of a classic seed round, the founders drew up a list of 200 people they dreamed of having as angel investors.  “We knew that every single person would

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