Felix Pago raises $200M to expand WhatsApp-based fintech services

Miami-based fintech startup Felix Pago has secured $200 million in new financing to expand its financial services for Latin American immigrants. The funding includes $87 million in equity led by Andreessen Horowitz and a $113 million credit facility from General Catalyst’s Customer Value Fund. Other participants include QED Investors, Castle Island Ventures, Switch Ventures, Contour Venture Partners, and Endeavor Catalyst.

The company utilizes a WhatsApp-based AI chatbot to facilitate remittances, allowing users to manage transfers through text or voice without downloading a separate application. Behind the scenes, the platform uses USDC on the Stellar blockchain for settlement, partnering with Bitso to provide local liquidity and on/off-ramps in Latin American markets.

Having already processed over $8 billion in transactions for more than six million people across 11 markets, Felix Pago intends to use the capital to expand into savings, loans, and other financial products. The company is developing a “Cognitive Financial Companion” to help users access relevant financial services through natural language interaction.