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Latin American startup Felix Pago has raised $15.5 million in a Series A round led by Castle Island Ventures.
Founded in 2021 by Manuel Godoy and Bernardo Garcia, Felix Pago capitalizes on remittances worth $155 billion from U.S. workers to Latin America to offer low-cost transactions facilitated by Circle’s USDC stablecoin thereby reducing foreign exchange costs and pre-funding needs.
The company also leverages WhatsApp’s extensive reach in the Latin American region, using a chatbot to streamline cross-border money transfers, including voice-activated transactions.
Felix Pago will use the new funding to expand into El Salvador, Nicaragua, the Dominican Republic, and Colombia and achieve its vision of becoming the go-to financial companion for Latino immigrants in the U.S., offering services beyond remittances, such as credit-building.