Fomo co-founder Se Yong Park says the crypto trading app has completed its first funding round, with 140 angel investors taking part. ChainCatcher reports the company now has more than 200 angel investors on its cap table.

Park emphasizes that founders often misinterpret the relationship with angel investors, arguing that angels should be viewed as a bullish indicator of product success rather than hands-on mentors. He notes that even if a cap table includes tech CEOs, celebrities, or athletes, their active involvement in early stages is unlikely.

As Fomo continues to scale and builds a product that angel investors genuinely want to use and share, Park believes more people will naturally start recommending it to others.