Felix Pago, a Miami-based remittance startup, has raised US$75 million in a series B round led by QED Investors.

The company plans to expand into Colombia, Ecuador, and Peru, while also introducing credit products and savings accounts.

Founded in 2020, Felix Pago operates through WhatsApp and processed over US$1 billion in transfers in 2024. It currently serves Mexico, El Salvador, Guatemala, Honduras, and the Dominican Republic.

Felix Pago aims to challenge traditional players like Western Union and MoneyGram in the US$160 billion Latin American remittance market. The company is exploring acquisitions to offer broader financial services.

While it didn’t disclose its valuation, Felix Pago said it’s nearing unicorn status.

It continues to grow despite rising US regulatory scrutiny, reporting a 20% monthly transaction volume increase. The average transfer is US$290, using stablecoins like USDC for faster processing.