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A16z joins $200m round for US remittance startup Felix Pago. Miami-based Felix Pago, a money-transfer startup for Latin American immigrants in the US, raised US$200 million in series B funding to expand beyond remittances into services such as lending and savings. The round included US$87 million in equity, led by Andreessen Horowitz, and a US$113 million credit line from General Catalyst's Customer Value Fund. QED Investors, Castle Island Ventures, Switch Ventures, Contour Venture Partners, and Endeavor Catalyst also participated. Felix said it has processed more than US$8 billion in transfers through its WhatsApp-based service. Its payment infrastructure uses USDC as an alternative to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network. The company also offers mobile top-ups. The funding came as fintech companies, including Remitly, Wise, and crypto exchange Bitso, competed for a Latin American remittance market worth more than US$160 billion a year. Felix said it operated in 11 countries across the region, including Mexico, El Salvador, Colombia, and Ecuador, and planned to use part of the funding to expand into countries such as Brazil and Venezuela. Stay updated on the go with our mobile app. Get latest insights with smoother, more personalized experience through TIA mobile app. How would you feel if you could no longer use Tech in Asia? Share, tag us, and land on our Wall of!

Felix Pago raises US$200 million to expand its financial services. The fundraising comes at a time when changes in U.S. policy and demographic shifts among immigrants are accelerating the move from cash transfers to digital transfers. By Maria Clara Cobo September 1, 2026 | 4:01 PM Bloomberg - Money transfer startup Felix Pago has raised US$200 million to expand beyond remittances and offer services such as loans and savings plans to Latin American immigrants in the U.S. The Series C funding round includes US$87 million in equity, led by Andreessen Horowitz, and a US$113 million credit line from General Catalyst's Customer Value Fund. Felix Pago, based in Miami, which claims to have processed more than US$8 billion in money transfers through its WhatsApp-based platform, also announced plans to develop an AI-powered financial assistant to help clients make everyday financial decisions. The company said it will invest in artificial intelligence, engineering and financial infrastructure to expand its current money transfer business. It has also added mobile top-ups, allowing U.S. users to purchase phone plans for their relatives in their home countries. Previous investors participated in this round, including QED Investors, Castle Island Ventures and Switch Ventures, along with Contour Venture Partners and Endeavor Catalyst. "This funding round comes precisely from the combination of what users tell us they need and our own ambition to serve them," said CEO and co-founder Manuel Godoy in an interview. "We want to create a Goldman Sachs-like experience for a user who has historically been completely underserved." The fundraising comes at a time when changes in U.S. policy and demographic shifts among immigrants are accelerating the shift from cash to digital transfers, increasing pressure on traditional remittance companies such as Western Union and MoneyGram International. The shift to digital is creating a gap among traditional remittance companies. Western Union's second-quarter revenue fell 1% to about US$1 billion, hurt by a weakening retail business in the Americas, even as its digital and consumer services businesses grew. The company said it plans to cut costs while still investing in digital products, as traditional companies struggle to adapt as customers turn to digital transfers. Fintech companies such as Felix Pago, Remitly Global Inc. and Wise Group Plc, along with cryptocurrency exchange platforms like Bitso Inc., are competing for a larger share of the Latin American remittance market, which is worth more than US$160 billion a year. Felix Pago said it has processed transactions for more than 6 million people across the Americas and operates in 11 countries in the region, including Mexico, El Salvador, Colombia and Ecuador. It plans to use part of the funding to expand further into countries such as Brazil and Venezuela. Godoy noted that the startup's conversational interface is designed, in part, to respond to immigrants' preference for personal interaction when managing their money. "This conversational experience emerged, in part, because Latinos are very cautious when it comes to money: we want to go to a physical establishment and talk to a person before handing over our cash," he said. "The conversational experience really gives people the feeling that they are talking to a real person, even if it is a chatbot." Venture capital fundraising in Latin America remains well below the highs reached during the pandemic, with about US$900 million raised in the first half of 2026, compared with US$2.6 billion for all of 2025. (Updated with Western Union's results in the eighth paragraph. An earlier version of this story was corrected to say 'Series C' in the second paragraph, instead of 'Series B')

Moniepoint is shutting down MonieWorld, its UK-to-Nigeria remittance service, after 14 months due to intense market competition. August 25, 2026 Technext nigeria 548 words Tl;dr. Moniepoint launched MonieWorld in June 2025 to enable Nigerians in the UK to send money directly to Moniepoint accounts in Nigeria. The service stopped processing transactions on August 15, 2026, and will completely shut down on September 15, 2026. Intelligence. MonieWorld struggled to establish a competitive edge against entrenched remittance players like Wise, Remitly, WorldRemit, LemFi, and Grey. This closure signals that domestic market dominance in Nigeria does not guarantee success in highly competitive, heavily regulated Western remittance corridors. For other Nigerian fintech firms planning international diaspora-targeted products, MonieWorld's exit highlights the massive cost of customer acquisition and regulatory compliance in markets like the UK. Future expansions will require deeper localization or aggressive pricing advantages to compete with deeply entrenched giants like Wise and Remitly. 12 companies and people in this story have tracked profiles. Filed under: Recommended reading. Picked for you by topic, popularity and relevance - not just the newest posts. Related topics FEC approves 2 NIGCOMSAT satellites to expand broadband coverage Related topics Invest Kenya, EAVCA partner to attract private capital Related topics Exits MENA acquires Avanz Capital Egypt Related topics Standard Bank secures €456M financing deal for Genser Energy Related topics Stanbic IBTC's privacy judgment is a warning to every brand holding customer data Related topics SA's Verascient secures $1.2M to revolutionize enterprise knowledge management