Se Yong Park, co-founder of crypto trading app fomo, announced on X that the project has completed its first funding round with 140 angel investors participating. The cap table now carries more than 200 angels. Park's post doubles as advice for early-stage founders: many misread the relationship with angels, and the better framing is to treat them as a call option on the product's success. Names alone do not move the needle at the start, he argued. Even if a company attracts CEOs of well-known tech firms, celebrities or athletes to its shareholder list, the concrete help they can offer in the earliest phase remains minimal. The real payoff tends to arrive later. Once angels begin using the product and feel proud of it, they gain more incentive to share it on their own, which can widen the startup's reach to potential users. Financial terms of the round were not disclosed.
Se Yong Park, co-founder of crypto trading app fomo, said on X that the project has closed its first funding round. A total of 140 angel investors took part, and more than 200 angels now sit on the cap table.
Clashing views on early-stage angels
Park used the announcement to offer a piece of advice for early-stage founders. In his view, many entrepreneurs misread the relationship between a company and its angel investors. The right way to frame it, he wrote, is to view each angel as a "call option" on the success of the product.
He also downplayed the value of big names on a shareholder list, at least in the beginning. Even if a startup brings in CEOs of well-known technology companies, celebrities or athletes, the real help they can provide at that early stage is still likely to be low, Park argued.
The more meaningful contribution, he suggested, usually shows up later. As the company grows and the product becomes more mature, angels who actually use the product and feel proud of it will be more motivated to talk about it on their own initiative. That kind of organic sharing, he added, helps the startup reach more potential users.
Financial terms of the round were not disclosed.
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