By Riley Kaminer
Chat-based remittance platform Felix Pago has announced its $75 million Series B fundraise led by QED Investors. The company, which lets users send money via WhatsApp, has processed over $1 billion in transfers and now plans to scale into new countries and financial products.
The round drew participation from Monashees, Switch Ventures, Castle Island, and HTwenty Capital Innovation. While the company declined to disclose its valuation, it confirmed it’s nearing the $1 billion mark. That milestone is less of a priority for the team than building products users actually need.
“Although we appreciate Bloomberg’s faith in us becoming a ‘unicorn’ in future rounds, here at Félix, we don’t care about that,” co-founder and CEO Manuel Godoy wrote on LinkedIn. “We focus on what matters: positively impacting the lives of hundreds of thousands of our users every day.”
Felix Pago is aiming to become the go-to financial platform for Latino families sending and receiving money across borders. With its new funding, the company will expand operations to Colombia, Ecuador, and Peru, and begin offering services like savings accounts and credit alongside its core remittance product.
“We want to move from only offering remittances to becoming a complete platform to use that money,” Godoy told Bloomberg. That could include future acquisitions, he added, to help speed up product development.
Founded in 2020, Felix Pago is already operating in Mexico, Guatemala, El Salvador, Honduras, and the Dominican Republic. The company’s model has caught on quickly by using a tool most of its users already have open on their phones: WhatsApp. That accessibility, combined with low fees and fast transactions (powered in part by stablecoins like USDC), has helped it challenge giants like Western Union and MoneyGram.
Regulation remains a question mark. U.S. authorities are tightening oversight of border transfers to crack down on money laundering. Godoy said the company is tracking developments closely but hasn’t revised its growth targets.
Earlier this year, transaction volumes dipped amid stricter immigration enforcement but have since bounced back. The company has been averaging 20% monthly growth in transactions. Godoy credits the team and his co-founder, Bernardo Garcia, with helping shape what Felix has become.
“Our mission has always been to make financial services accessible to Latinos and their loved ones,” he said.
In Miami alone, the remittance scene is very active, with local startups including OKY, Leap Financial, Alfred Pay, and PaySend, among others. But with demand for remittances growing and already over $160 billion sent annually to Latin America, there is plenty of pie for these companies to share.
Pictured at top of post: Félix Pago co-founders Bernardo Garcia (COO), at left, and CEO Manuel Godoy.
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