Se Yong Park, co-founder of the crypto trading application fomo, has announced that the company has completed its first financing round, with 140 angel investors participating. According to Park, the cap table now holds more than 200 angel investors. In his remarks, Park shared his view on how early-stage founders should think about angel investors. He said founders almost always get the dynamic between the company and its angels wrong. Instead, he suggested treating angel investors as a call option on the product's success. He also noted that even if the cap table includes technology CEOs, celebrities, or athletes, the likelihood of them providing meaningful early help is close to zero. Park added that as the company scales and makes a product that angel investors genuinely enjoy using and feel proud to share, a growing number of them will naturally recommend it to others. The announcement gives attention to fomo's investor strategy, emphasizing the value of organic advocacy over direct participation, while offering a realistic perspective for founders seeking early backers.
Se Yong Park, co-founder of crypto trading app fomo, has announced the closing of the company's first funding round. The round attracted 140 angel investors, and the cap table currently includes more than 200 angel investors.
Park also used the announcement to discuss founder-investor dynamics. He argued that early-stage founders almost always misread how their relationship with angel investors works. The better mental model, he said, is to view angel investors as a call option on the product's success. He added that even when the cap table lists tech CEOs, celebrities, or athletes, the odds of them offering useful help in the early days are near zero.
As the company scales and builds a product angel investors genuinely want to use and are proud to share, Park said, more of them will naturally recommend it to the outside world.
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