Félix Pago Raises $200M, Valued at $1.4B as it Expands into Lending

Félix Pago, a Miami-based fintech company that enables US-based Latino immigrants to send money home via WhatsApp, has raised $200 million in its Series C round. The funding, led by Andreessen Horowitz and General Catalyst, values the company at approximately $1.4 billion, making it a unicorn.

The company plans to use the funds to expand beyond remittances into lending, savings, and AI-driven financial guidance. Félix Pago's architecture allows users to convert dollars into Circle's USDC stablecoin, which is then transferred over a public blockchain and settled in seconds. This eliminates the need for correspondent banking fees, resulting in lower payout costs compared to traditional banking models.

The new federal excise tax, effective January 1, 2026, charges a 1% fee on cash and money-order transfers, while exempting digital transfers. Félix Pago's platform is built entirely on digital rails, making it structurally exempt from the tax. The company's CEO, Manuel Godoy, describes this model as a 'stablecoin sandwich,' where dollars are on one end, USDC in the middle, and local currency on the other.

The $200 million raise brings Félix Pago's total capital to nearly $300 million since its founding. The company's valuation roughly tripled since its previous round, which was valued at approximately $484.5 million. General Catalyst's Customer Value Fund committed $113 million in debt to fund Félix's expansion into lending and savings products.