Fomo has completed its first round of financing, with a total of 140 investors participating in this round

Co-founder of the cryptocurrency trading app Fomo, Se Yong Park, announced the completion of the first round of financing, which involved 140 angel investors. Currently, there are over 200 angel investors on the cap table.

He stated that early founders almost always misunderstand the dynamics between the company and angel investors, and should view angel investors as call options for product success. Even if the cap table includes tech CEOs, celebrities, athletes, etc., the likelihood of them providing help early on is close to zero. As the scale expands and a product is created that angel investors are truly willing to use and proudly share, more and more people will naturally recommend the product to the outside world.