Félix, an AI-powered WhatsApp remittance startup targeting Latino immigrants, has raised $200 million in Series C funding co-led by Andreessen Horowitz and General Catalyst. The round includes an $87 million equity investment led by a16z, alongside a $113 million debt commitment from General Catalyst’s Customer Value Fund. Founded in 2020, the Miami-based startup has now raised nearly $300 million total.
While the company did not state its exact valuation, it confirmed that the figure has tripled since its $75 million Series B, which previously valued the firm at $484.5 million. Félix offers conversational financial tools, letting users send cross-border payments via WhatsApp by leveraging AI and blockchain technology. The platform currently connects users in the United States to recipients across 11 Latin American markets, including Mexico, Brazil, and Peru.
According to the company, it has processed over $8 billion in transactions to date and grew its revenue by more than 2.5 times over the past year. Félix plans to deploy the fresh capital to expand its product offerings and launch into additional markets across Latin America.
Why it matters
Proves conversational UI via WhatsApp combined with back-end AI can scale financial services efficiently in high-volume consumer markets.
Highlights growing institutional appetite for non-equity capital mechanisms, using $113 million in debt to fund operational liquidity.
Demonstrates strong investor interest in cross-border fintech targeting underserved demographics despite broader venture capital pullbacks.
Source: news.crunchbase.com
