ChainCatcher report: Se Yong Park, co-founder of the crypto trading app Fomo, announced the completion of its seed round, which involved 140 angel investors; the cap table now includes over 200 angel investors. He noted that early founders almost always misunderstand the dynamic between a company and its angel investors, and should view angel investors as call options on product success. Even if the cap table includes tech CEOs, celebrities, or athletes, their likelihood of providing meaningful early support is nearly zero. As the company scales and builds a product that angel investors genuinely want to use and proudly share, more and more people will naturally recommend it to others.
Fomo Completes Seed Round with 140 Angel Investors
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Summary
Fomo announced the completion of its seed round, securing backing from 140 angel investors, bringing its cap table to over 200. This funding milestone marks a key achievement for the team. Co-founder Se Yong Park noted that angel investors serve as call options for product success, adding that early support from high-profile figures typically follows product traction and user pride. The announcement reflects growing confidence in Fomo’s vision.
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