Felix Pago raises $200M Series B from a16z, GC for stablecoin remittances
Felix Pago closes $200M Series B with a16z leading equity and General Catalyst providing a $113M credit facility. The WhatsApp-based remittance platform uses USDC for backend settlement across Latin America.
Felix Pago, the Miami-based fintech that lets users send money to Latin America through WhatsApp, closed a $200 million Series B round. Andreessen Horowitz led the equity portion at $87 million. General Catalyst's Customer Value Fund provided a $113 million credit facility on top.
The raise is a significant step up from the company's $75 million round in April 2025, led by QED Investors, and its $15.5 million Series A in 2024, led by Castle Island Ventures.
Felix Pago's pitch is simple: users open WhatsApp and send money home. No separate app download, no onboarding flow, no crypto wallet. The company settles transactions on the backend using USDC, Circle's dollar-pegged stablecoin, and blockchain rails. Users on either end never see the crypto. They send dollars, their family receives local currency.
Felix Pago partners with Circle for stablecoin infrastructure, along with dLocal, Mercado Pago, Nu Holdings, and Bitso for local payouts across its corridors.
The platform processed over $1 billion in transfers during 2024 alone. Cumulatively, it has moved more than $5 billion across more than one million users in nine Latin American corridors.
The $113 million credit facility from General Catalyst is worth unpacking. Credit facilities in fintech typically provide working capital to fund the float between when senders initiate transfers and when recipients get paid. A facility of that size suggests Felix Pago is planning for significantly higher throughput than what it processed last year, the company said.
The new funding will push Felix Pago beyond its core money-transfer product. The company plans to introduce lending and savings products aimed at Latin American immigrants living in the US.
Manuel Godoy and Bernardo Garcia founded the company in 2020. Both have personal migration backgrounds that informed the product's design.
Felix Pago currently operates across nine Latin American corridors and plans to expand into Colombia, Ecuador, and Peru.
For Circle, whose USDC stablecoin underpins the settlement layer, the partnership validates the strategy of positioning USDC as infrastructure for fintechs rather than just a trading pair on crypto exchanges. Every dollar that flows through Felix Pago's platform is a dollar that briefly exists as USDC on a blockchain.
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