"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 be valuable to us in the business," Erlanger told TechCrunch."
"Then they worked their networks for warm intros- both had previously worked at the popular crypto trading platform dYdX. Failing that, they made cold calls. And 140 of their dream angels wrote checks after hearing their pitch. They landed such big names in the crypto world as Polygon Labs CEO Marc Boiron; co-founder of Solana, Raj Gokal; and former Coinbase CTO and super-angel Balaji Srinivasan, the founders said."
Fomo launched in May and announced a $17 million Series A led by Benchmark, bringing total funding to $19 million. The founders targeted 200 ideal angel investors instead of pursuing a classic seed round, using warm introductions and cold outreach to secure checks from 140 angels. Early backers include Marc Boiron, Raj Gokal, and Balaji Srinivasan. The app aims to provide consumers access to millions of crypto assets across any blockchain with minimal technical friction and includes social features to follow peers and leaders. The roadmap aims to reach near-complete asset coverage within six months and expand to other asset types.
Read at TechCrunch
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