$200M Felix Pago Funding Validates Stablecoin Rails for LatAm Immigrants

A Miami-based startup called Felix Pago has secured $200 million in funding for its WhatsApp-native remittance platform, which uses USDC on the Stellar blockchain to settle transactions.

The Series B round was led by Andreessen Horowitz (a16z) and includes a $113 million credit facility from the General Catalyst Customer Value Fund. Additional equity participants include QED Investors, Castle Island Ventures, Switch Ventures, Contour Venture Partners, and Endeavor Catalyst.

Felix Pago's platform allows users to send money across borders without the need for legacy rails or high fees. The company has processed over $8 billion in remittances to date, with revenue growing 12x between 2023 and 2024. It currently clocks roughly 20% month-over-month growth.

The startup is expanding into Brazil, Venezuela, El Salvador, and Nicaragua while pivoting toward a broader financial services suite that includes lending, savings, and an AI financial assistant. The company's ability to integrate its platform into the daily habits of users by living inside WhatsApp gives it a distribution advantage that is hard to replicate with a standalone app.