A Miami-based fintech company that offers financial services through WhatsApp has closed a $200 million Series C round, signaling growing investor confidence in AI-powered tools for underserved communities. Félix, which targets Latino immigrants in the U.S., will use the capital to expand into new Latin American markets and broaden its product offerings.

What You Need to Know

Félix has processed over $8 billion in transactions since its 2020 founding. The Series C includes $87 million in equity led by a16z and $113 million in debt from General Catalyst’s Customer Value Fund. The company says its valuation has tripled since its Series B, placing it at unicorn status. Co-founder Manuel Godoy says the platform uses AI and blockchain to simplify financial tasks for people who often lack access to traditional banking.

A Fintech Built on WhatsApp

Founded by Manuel Godoy and Bernardo García in 2020, Félix lets users send money, pay bills and access financial tools through a conversational interface on WhatsApp. The platform serves 11 Latin American markets including Mexico, Brazil, Costa Rica, Honduras and Peru. Godoy, an immigrant himself, designed the service to address the hurdles Latinos face when navigating traditional financial institutions.

The Investor Bet on AI for Financial Inclusion

The round was co-led by a16z and General Catalyst, with additional equity participation from QED Investors, Castle Island Ventures, Switch Ventures, Contour Venture Partners and Endeavor Catalyst. General Catalyst’s Customer Value Fund provided a $113 million debt component to fuel expansion. The company did not disclose its post-money valuation but confirmed it increased threefold from its Series B, which valued Félix at $484.5 million.

  • Equity allocation: A16z led an $87 million equity investment alongside QED Investors and Endeavor Catalyst.
  • Debt financing: General Catalyst’s Customer Value Fund contributed $113 million for growth initiatives.
  • Market reach: Félix now connects users to 11 Latin American countries and plans to expand further.

Why This Matters

Félix’s rapid growth reflects a broader shift in remittance and financial services: traditional wire transfer models are being replaced by AI-driven, mobile-first platforms that understand natural language. For the millions of unbanked and underbanked Latinos in the U.S., this means lower fees, faster transfers and access to credit products previously out of reach. The round validates that investors like a16z and General Catalyst see a scalable path beyond remittance — toward a full financial super-app for a historically overlooked demographic. The company plans to introduce savings, lending and insurance tools, which could pressure incumbents such as Western Union and MoneyGram to accelerate their own digital transformations.