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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')

NEW YORK--(BUSINESS WIRE)--Jul 21, 2026-- Cordant today emerged from stealth with $8 million in seed funding co-led by Motive Partners and Oak HC/FT.

Sumsub deal shields Bitso from rising corporate fraud. July 21, 2026 Bitso Business has partnered with Sumsub, a global full-cycle verification provider, in a move designed to speed up business onboarding and reinforce its compliance framework. Under the agreement, Sumsub will replace Bitso's largely manual review of corporate paperwork, a process that could previously stall new business sign-ups for days at a time, with an automated verification pipeline. The aim is to cut administrative delays for legitimate corporate clients while ensuring checks keep up with the pace of blockchain-based settlement. The deal draws on a newly launched suite of Sumsub Business Verification capabilities, spanning automated company-level risk scoring, scheduled periodic rechecks and tracking of corporate document expiry dates. For Bitso, this means the bulk of its business onboarding will now run end to end without human intervention, incorporating live cross-referencing of corporate registries, automated extraction of Ultimate Beneficial Owner (UBO) data, and validation tools that flag tampered documents. Screening against sanctions lists, watchlists and Politically Exposed Persons databases will also run automatically, bringing the full compliance workflow into one platform. Bitso is a major piece of financial plumbing in the region, handling around 10% of remittance flows from the US to Mexico, and its corporate division supports large institutional clients that depend on fast cross-border treasury and liquidity services. The partnership also responds to wider regional pressures. Latin American FinTechs must contend with fragmented, largely non-digitised company registries alongside a growing threat from organised corporate fraud rings, with Sumsub's Identity Fraud Report 2025-26 recording a 180% global rise in coordinated, multi-step fraud attacks. The companies describe the agreement as the first stage of a longer-term relationship, with scope to extend into further modules of Sumsub's verification and compliance portfolio as Bitso grows. Bitso strategic alliances lead Alma Cervantes said, "For Bitso, security and compliance have never been negotiable; they have always come first. Our alliance with Sumsub reinforces this long-standing commitment by automating complex processes such as beneficial ownership mapping and business verification. Together, we are ensuring that the future of corporate finance in Latin America combines the speed of modern commerce with the strictest compliance standards in the market." Sumsub country manager for Mexico Miguel González said, "In Latin America's fast-evolving B2B ecosystem, platforms like Bitso cannot afford to let manual compliance hurdles slow down institutional growth. Our automated KYB technology solves the unique challenge of fragmented regional registries and complex UBO layers in real time. By selecting Sumsub, Bitso ensures that legitimate businesses experience a swift onboarding path, while its robust digital asset infrastructure remains completely secure against sophisticated fraud networks." Enjoying the stories?