Félix, a WhatsApp remittance service for Latinos in the United States, said Tuesday it has raised $200 million in new financing. The package consists of an $87 million equity round led by Andreessen Horowitz and a $113 million credit facility from General Catalyst’s Customer Value Fund.
According to a statement shared with Unchained, the equity round also included QED Investors, Castle Island Ventures, Switch Ventures, Contour Venture Partners, and Endeavor Catalyst. Andreessen Horowitz announced the investment the same day.
Most transfers settle in USDC behind the chat interface
Félix said its money movement runs on stablecoin rails that customers typically never see. In a statement, a16z crypto general partner Ali Yahya and investing partner Noah Levine wrote that most Félix transactions settle in USDC behind the WhatsApp chat window, while partner firms pay recipients out in their local currency.
They added that customers do not need to interact with crypto directly.
Company plans to build beyond its core remittance product
The new capital is intended to broaden a business that has so far been built around a single product. Félix said it plans to develop lending and savings through third parties, expand remittances, add mobile credit and data purchases, and invest in the artificial intelligence and financial infrastructure behind what it calls a Cognitive Financial Companion.
The company described that product as a conversational layer on WhatsApp designed to determine which financial product a customer needs based on how the customer describes the problem. Its statement outlined what the companion is expected to do once launched.
Manuel Godoy, co-founder and CEO of Félix, said: 「Traditional financial institutions often start with the product they want you to use. We want to start with the person. You tell Félix what you need, in your own words, and we help you figure out the rest.」
Félix says it has processed more than $8 billion since 2020
Félix said it has processed more than $8 billion in transactions for over six million people since its founding in 2020. The company also said revenue grew more than 2.5x over the past year.
It currently operates in 11 Latin American markets, including Mexico, Colombia, Brazil, and Peru. Félix said its payout and distribution partners include Walmart, UniTeller, Intermex, Visa, Stripe, Mastercard, and Checkout.com. The company does not run a physical branch network.
Funding arrives as remittance incumbents adopt stablecoins
The raise comes as established remittance companies are also moving into stablecoins. Western Union launched its USDPT stablecoin on Solana in May. The token was issued by Anchorage Digital Bank. Western Union also said it was developing settlement services for its global agent network and a consumer product planned for later in 2026.
Yahya said in the statement: 「Félix has packaged two frontier technologies, AI and blockchain networks, into something simple and consumer-friendly: a better way to send and receive money.」