Félix Raises $75 Million Series B Led by QED Investors to Foster Financial Inclusion in Latin America

Félix, a chat-based platform enabling Latino immigrants in the U.S. to send money abroad, announced its $75 million Series B in equity and growth financing. The round was led by QED Investors, with additional participation from Monashees, Switch Ventures, Castle Island, HTwenty, General Catalyst Customer Value Fund and Endeavor Catalyst.

Félix will use the new funding to introduce additional financial products, expand geographically, hire new talent, and upgrade its infrastructure.

“Our goal is to serve all of Latin America, especially in the countries where our users have loved ones,” said Manuel Godoy, CEO of Félix. “We want to be present where needed, delivering an exceptional money-sending experience to every user.”

The company intends to enhance the user experience by refining conversational payment flows and creating specialized payment networks for each country. It will also invest significantly in marketing to increase its visibility among Latino communities.

“We’re directly responding to requests from potential users on WhatsApp,” Godoy added. “People are already contacting us, and our chatbot identifies requests from countries we don’t yet serve. This data informs our growth strategy. We’ll strengthen our product, engineering, data, growth, and operations teams to conquer all of Latin America in the coming years. Additionally, we plan to deepen partnerships with local players to reduce transfer costs and improve the recipient experience. No other company is addressing Latin American remittances with the focus we have.”

Felix addresses Latinos’ lack of access to financial services like credit and bank accounts in the US and Latin America. Companies like Nubank and Mercado Pago have illustrated Latin America’s demand for digital financial services. Félix intends to meet that demand further and encourage continued financial inclusion, addressing the region’s low banking penetration—currently around 37%.

How Félix Works

Félix uses artificial intelligence to facilitate money transfers via a chatbot. Users initiate WhatsApp transactions by indicating, in writing or via voice notes, how much money they wish to send and to whom. Only in the final step do users securely enter their debit card details via a secured link. Recipients can instantly access the money in their local currency as a bank deposit or cash at participating stores.

Behind the scenes, Félix leverages blockchain technology to enhance security and transaction speed. The platform utilizes Circle’s USDC stablecoin to lower currency exchange costs, making transactions significantly cheaper and faster than traditional SWIFT methods.

“Cryptocurrencies are powerful enablers of remittances, but we simplify it for the users,” Godoy explained. “Users aren’t interested in how the money crosses borders—they simply want their money, quickly, affordably, and reliably in their local currency. Cryptocurrencies make this possible.”

Founded in 2020 by Venezuelan Manuel Godoy and Mexican Bernardo García, Félix operates in the United States and is also available in Mexico, El Salvador, Honduras, and Guatemala.

In the past year, Félix processed over $1 billion in remittances, attracted over 250,000 new users, and maintained a Net Promoter Score (NPS) above 90. The company’s revenue has grown 12x from 2023 to 2024, achieving 20% month-over-month growth across its markets.

Ana Cristina Gadala-Maria, Principal at QED Investors, commented, “Félix is reshaping the remittance experience by engaging Latino immigrants directly through WhatsApp. Their conversational model eliminates friction, fosters trust, and significantly boosts user engagement. Félix’s strong execution and clear strategy make it the preferred platform in this market.”

“We’re excited about this partnership with QED as we grow Félix’s vision to transform cross-border payments for the Latino community,” Godoy said. “We appreciate QED’s support and confidence in our mission. Their extensive fintech expertise makes them an ideal partner as we expand our platform, making cross-border money transfers simpler, faster, and more affordable.”

“We’ve been blown away by the team at Felix and by how much its users love the product. We’re thrilled to fuel their go-to-market from the Customer Value Fund, enabling Felix to double down on its tremendous growth while continuing to invest in product innovation,” said Harry Elliott, Partner at General Catalyst Customer Value Fund (CVF).

Félix’s growing list of prominent allies includes Nubank, Mercado Pago, Intermex, Mastercard, Spin by Oxxo, and Uniteller.