TLDR:
- Félix Pago, a Mexican fintech, secures $15.5M in Series A funding.
- The funding will be used to enhance infrastructure, compliance capabilities, develop new financial products, and expand into more Latin American countries.
Mexican fintech Félix Pago has raised $15.5M in Series A funding, led by Castle Island Ventures, with participation from Switch Ventures, HTwenty Capital, Contour Venture Partners, MELI Capital, and Mercado Libre’s corporate venture arm. This funding follows a previous $7.8M pre-seed extension in September 2023. Félix Pago plans to use this investment to enhance its infrastructure and compliance capabilities, develop new financial products, and expand its presence into El Salvador, Nicaragua, the Dominican Republic, and Colombia. Founded in 2021, Félix Pago helps Latino workers in the U.S. make money transfers to Latin America via a WhatsApp chatbot, making the process simple and convenient. The company aims to become a trusted companion for Latinos in the U.S. by easing the remittance process for all Latinos. Félix Pago has partnered with Grupo Elektra, Mercado Pago, Nubank, BBVA, Walmart, and Oxxo to facilitate these transactions.
