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Félix, a WhatsApp remittance platform, secures $200M Series C funding led by A16z and General Catalyst
Key points
- Félix secured $200 million in Series C funding.
- A16z led an $87 million equity investment.
- General Catalyst committed $113 million in debt.
- The company plans to expand into new Latin American markets.
Funding Details
Félix, an AI-powered WhatsApp remittance platform, announced it has secured $200 million in Series C funding. The round was co-led by Andreessen Horowitz (A16z) and General Catalyst. A16z led an $87 million equity investment, with participation from QED Investors, Castle Island Ventures, Switch Ventures, Contour Venture Partners, and Endeavor Catalyst. General Catalyst’s Customer Value Fund committed $113 million in debt to support Félix’s growth.
Company Background and Growth
Founded in 2020 by Manuel Godoy and Bernardo García, Miami-based Félix has now raised a total of nearly $300 million. The company did not disclose its post-Series C valuation but stated it increased threefold since its Series B, which valued it at $484.5 million. Félix has processed over $8 billion in transactions to date and reported more than 2.5x revenue growth in the past year. It connects users in the U.S. with families in 11 Latin American markets, including Mexico, Brazil, Costa Rica, Honduras, and Peru.
Future Plans
Félix intends to use the new capital to expand its offerings and enter additional markets across Latin America. The platform aims to simplify financial services for Latino immigrants by leveraging AI and blockchain networks to facilitate money transfers.
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Reporting from
Félix, an AI-powered WhatsApp remittance platform for Latino immigrants, raised $200 million in Series C funding, co-led by Andreessen Horowitz and General Catalyst. This funding round, comprising $87 million in equity and $113 million in debt, will support the company's expansion into new Latin American markets and growth of its offerings.