Miami Fintech Felix Pago Secures $200M for Stablecoin Remittances

Felix Pago, a Miami-based fintech, has secured $200 million in Series B funding to scale its stablecoin remittance service. The investment was led by Andreessen Horowitz, with General Catalyst's Customer Value Fund providing a $113 million credit facility.

The company uses Circle's USDC stablecoin and blockchain rails for settlement, allowing users to send money through WhatsApp without needing a separate app or crypto wallet. Felix Pago has partnered with local payment providers such as dLocal, Mercado Pago, Nu Holdings, and Bitso to facilitate payouts across nine Latin American corridors.

In 2024 alone, the platform processed over $1 billion in transfers, with cumulative transactions exceeding $5 billion across more than one million users. The new funding will enable Felix Pago to expand its operations into Colombia, Ecuador, and Peru, as well as introduce lending and savings products for Latin American immigrants living in the US.