Fomo Acquires Mobula for $17M as Its Weekly Volume Surpasses $1B

Social trading app Fomo has acquired Mobula's proprietary software and intellectual property in a $17 million deal, bringing key members of the onchain data company's team into Fomo's engineering organization.

Mobula founder Sacha Marcus, CTO Sacha Delhoux, and Head of Infrastructure Cyril Conan will join Fomo. Mobula's technology previously powered important parts of Fomo's infrastructure, including real-time APIs and security-enriched data endpoints used for scam detection and social discovery.

Mobula will reportedly continue operating independently, while Fomo takes control of its core intellectual property and engineering leadership.

According to the press release, the deal will help Fomo build more of its onchain data and global infrastructure capabilities internally rather than depend on multiple external providers. The company cited growing demands on its infrastructure as it adds users, markets and new trading products.

“As fomo scales, we’re investing in technology that will support the next phase of the business,” CEO Paul Erlanger said.

Growth Has Put Pressure on Fomo's Infrastructure

Fomo's acquisition comes during a sharp expansion in activity which has put a strain on its technical infrastructure. Yesterday, August 30, the platform notified its users of an outage which disrupted cross-chain trading.

 The platform now has more than 1.9 million users, more than double its total from the beginning of July, and adds more than 30,000 users each day. More than 1.2 million users traded or interacted with the platform in August, while Fomo climbed as high as No. 3 in the U.S. Finance category on Apple's iPhone App Store, surpassing Cash App.

Dune data also showed Fomo reaching a record 107,000 daily traders on August 25.

Trading volume has accelerated alongside user growth. Monthly volume rose from $500 million in June to $1.5 billion in July. Last week, Fomo recorded an all-time high of $1.06 billion in weekly trading volume, including $356.56 million from Solana.

Social Trading Drives the Expansion

Fomo's growth reflects its focus on combining trading, asset discovery and social interaction. Users can follow traders, discover tokens through others' activity, and build audiences around their performance.

The product has also expanded beyond its original trading offering. Fomo Web now generates roughly 25% of platform volume, while Fomo Perpetuals continues to grow. Its Clans feature allows trader communities to organize and compete together.

That approach has helped Fomo attract users who may find traditional onchain trading interfaces difficult to navigate. Its mobile-first design and cross-chain functionality reduce some of the friction involved in finding and trading tokens.

Fomo's rise has also intensified competition with Pump.fun, particularly around SocialFi and memecoin trading.

The acquisition gives Fomo more control over an increasingly important layer of its business. As trading activity grows, reliable onchain data becomes central to delivering the best execution for users.

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