Félix, the fintech founded in 2020 by Manuel Godoy and Bernardo García, both Wharton graduates, closed a Series C of US$200 million co-led by Andreessen Horowitz and General Catalyst, becoming a unicorn with an approximate valuation of US$1.4 billion.
The round combines US$87 million in equity led by a16z crypto, with the participation of QED Investors, Castle Island Ventures, Switch Ventures, Contour Venture Partners and Endeavor Catalyst, plus US$113 million in line of credit from General Catalyst’s Customer Value Fund to finance the platform’s operating float.
The company was born from the personal experience of its founders with the difficulties of the US financial system for Latino immigrants. They started with remittances because sending money home is one of the most urgent financial needs of that community, settling operations with USDC in the backend while the user only sees a WhatsApp conversation: he sends dollars and his family receives local currency, without the need for digital wallets or knowledge of cryptocurrencies.
From remittances to the cognitive financial companion
With this round, Félix announces a strategic transformation that goes far beyond international transfers. The company plans to launch loan and savings products designed for Latin American immigrants in the US, expanding the relationship with the user from the occasional sending of money to complete financial support.
“Our ambition is to offer a Goldman Sachs-level financial experience, with the simplicity of a conversation, to people who have historically been overlooked by the financial system,” said Manuel Godoy, CEO and co-founder of Félix.
A unicorn born on WhatsApp
Félix was valued at US$484.5 million at the time of its latest round, a US$75 million Series B led by QED Investors. With Series C, that valuation almost triples. The company currently operates in 11 Latin American markets, including Mexico, Colombia, Ecuador, El Salvador, Brazil, Costa Rica, Honduras and Peru, and plans to continue expanding in the region.
“Ali Yahya and the a16z team believe that Félix represents what the future of financial services can be for millions of Latinos in the US,” says Manuel Godoy.
The bet of global funds validates that stablecoins are no longer competing only in digital asset markets to become invisible infrastructure for everyday payments, where their usefulness is measured by the efficiency of settlement and not by speculation on the price.
