Mexican fintech Félix Pago secures $15.5M Series A

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B2C remittance solution Félix raised a $15.5M Series A round led by Castle Island Ventures, with participation from Switch Ventures, HTwenty Capital, Contour Venture Partners, MELI Capital, Mercado Libre’s corporate venture arm. The funding follows their $7.8M pre-seed extension in September 2023.

Félix will use the investment to enhance its infrastructure and compliance capabilities to develop new financial products and expand its presence into El Salvador, Nicaragua, the Dominican Republic, and Colombia.

Félix helps Latino workers in the U.S. make money transfers to Latin America via a WhatsApp chatbot, allowing users to start a remittance by texting or sending a voice memo.

“To become that trusted companion of the Latino in the U.S., we have to solve the remittances problem for all Latinos. I like to say that WhatsApp is the operating system of the region, so it makes sense that we build something on WhatsApp to make it super easy,” said Manuel Godoy, co-founder and CEO of Félix.

Founded in 2021, Félix’s partners include Grupo Elektra, Mercado Pago, Nubank, BBVA, Walmart, and Oxxo.

Read more on TechCrunch.

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