WhatsApp Remittance Startup Félix Secures $200M Series C Led By A16z, General Catalyst

Miami-based Félix, an AI-powered remittance platform utilizing WhatsApp for Latino immigrants, announced on Tuesday it has secured $200 million in Series C funding. The funding round was co-led by venture capital firms 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. Concurrently, General Catalyst's Customer Value Fund committed $113 million in debt financing to support Félix's growth initiatives.

Founded in 2020 by Manuel Godoy and Bernardo García, Félix has now raised nearly $300 million in total funding. At the time of its previous $75 million Series B round, led by QED Investors, the company was valued at $484.5 million. Félix did not disclose its valuation post-Series C but indicated it had "increased threefold" since its Series B, suggesting it has achieved unicorn status.

The company reports processing over $8 billion in transactions to date and more than doubling its revenue (2.5x) in the past year. Félix facilitates connections between individuals in the U.S. and their families across 11 Latin American markets, including Mexico, Brazil, Costa Rica, Honduras, and Peru. The company intends to use the newly acquired capital to expand its service offerings and enter new markets throughout Latin America.