Felix Pago Secures $200M in Funding for Expansion into Financial Services
US-based money-transfer platform Felix Pago has raised $200 million to expand beyond remittances and enter financial services such as lending and savings. The funding round was led by Andreessen Horowitz, with participation from QED Investors, Castle Island Ventures, Switch Ventures, Contour Venture Partners, and Endeavor. Founded in 2020, Felix Pago operates a WhatsApp-based platform catering to Latino immigrants sending money to Latin America. It has processed over $8 billion in transfers across 11 countries and plans to expand into Brazil and Venezuela using the new funds. The company aims to evolve into a multi-product financial services provider through its Cognitive Financial Companion on WhatsApp. CEO Manuel J Godoy emphasized that this expansion is driven by user needs and the ambition to offer underserved communities a comprehensive financial experience, likening it to Goldman Sachs.
