Félix Pago Closes $200M Round at $1.4B Valuation, Plans to Add Lending and AI Services
Félix Pago Closes $200M Round at $1.4B Valuation, Plans to Add Lending and AI Services #
Félix Pago, the Miami-based fintech that lets Latino immigrants send money home through WhatsApp, has closed a $200 million funding package and reached a $1.4 billion valuation as it prepares to add lending, savings, and AI features to its platform.
The deal combines $87 million in Series C equity, led by Andreessen Horowitz (a16z), with a $113 million credit facility from General Catalyst’s Customer Value Fund. QED Investors, Castle Island Ventures, Switch Ventures, Contour Venture Partners, and Endeavor Catalyst also participated in the equity round. The new valuation is nearly three times the $484.5 million the company carried after its $75 million Series B, led by QED in 2024. Total capital raised since founding is now close to $300 million.
Félix Pago was founded in 2020 by Wharton alumni Manuel Godoy and Bernardo García. The service runs through WhatsApp: senders initiate transfers by text or voice note, and the platform settles transactions through Circle’s USDC stablecoin and blockchain rails, bypassing the currency conversions and intermediary fees common in traditional remittance networks. Recipients can withdraw funds as local-currency bank deposits or cash at retail locations across 11 Latin American markets, including Mexico, Colombia, Brazil, Ecuador, El Salvador, Honduras, and Peru.
The company says the platform has processed more than $8 billion in cumulative transfers and serves more than six million users. In comments accompanying the announcement, a16z general partner Ali Yahya said the company illustrates what financial services could look like for millions of Latino immigrants in the United States.
The new capital will support two areas of expansion. On the product side, the company plans to introduce lending and savings offerings and to build AI agents capable of handling financial interactions inside WhatsApp. The $113 million credit facility from General Catalyst’s Customer Value Fund is structured to underwrite the lending activity.
The round comes as a new U.S. federal excise tax of 1% on cash-funded international transfers has taken effect this year. Digital transfers are exempt, a distinction that could disadvantage cash-agent networks relative to app-based platforms operating on digital rails.
Copy link