Markets
Félix Raised $200M for a Remittance Product Whose Entire Interface Is WhatsApp
Miami-based Félix announced a $200 million Series C on September 1, split $87 million equity and $113 million debt, co-led by a16z and General Catalyst with QED, Castle Island, Switch, Contour and Endeavor Catalyst participating, at roughly 3x its $75 million Series B valuation. It has processed over $8 billion cumulatively across 11 Latin American markets with revenue up 2.5x year over year. The company describes packaging AI and blockchain settlement behind WhatsApp, meaning the fintech front end is a chat thread with no app to install, which is the interface argument vertical fintech has been making without a funding round this size behind it.
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