Félix Secures $200 Million to Expand Remittance Services and Introduce New Financial Products

Stablecoin remittance company Félix has secured $200 million in new financing to expand its operations and introduce new financial products. The funding combines an $87 million equity investment led by Andreessen Horowitz with a $113 million credit facility from General Catalyst's Customer Value Fund.

The company targets Latino immigrants in the United States sending money to family members across Latin America, using WhatsApp as the primary interface for transfers. Users initiate transactions through a conversation, providing recipient and payment information, and fund them using cards or cash. Recipients can collect funds through bank accounts, digital wallets, or physical cash locations depending on the destination.

Félix uses USDC and blockchain rails within its settlement infrastructure, allowing dollar-denominated value to move across borders while customers send dollars and recipients generally receive their local currency. The U.S.-Mexico corridor is particularly significant, with approximately $161 billion remitted to Latin America and the Caribbean in 2024, with roughly 80% originating in the United States.

The company currently facilitates transfers from the United States into nine Latin American countries and charges fees starting at $2.99 for some bank-account transfers, although pricing varies by destination and delivery method. Félix plans to expand beyond remittances into lending and savings services for Latino immigrants in the United States and is developing an AI-powered financial assistant.