Miami-based Felix Pago, a money-transfer startup for Latin American immigrants in the US, raised US$200 million in series B funding to expand beyond remittances into services such as lending and savings.

The round included US$87 million in equity, led by Andreessen Horowitz, and a US$113 million credit line from General Catalyst’s Customer Value Fund. QED Investors, Castle Island Ventures, Switch Ventures, Contour Venture Partners, and Endeavor Catalyst also participated.

Felix said it has processed more than US$8 billion in transfers through its WhatsApp-based service.

Its payment infrastructure uses USDC as an alternative to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network. The company also offers mobile top-ups.

The funding came as fintech companies, including Remitly, Wise, and crypto exchange Bitso, competed for a Latin American remittance market worth more than US$160 billion a year.

Felix said it operated in 11 countries across the region, including Mexico, El Salvador, Colombia, and Ecuador, and planned to use part of the funding to expand into countries such as Brazil and Venezuela.

🔗 Source: Bloomberg