The wealth boasted about by visitors or new residents to South Florida is getting handed down to ordinary people.
Félix Pago, a finance startup focused on remittances and with headquarters in Miami, has obtained $87 million in equity in a financing round led by respected Silicon Valley venture capital firm Andreessen Horowitz.
The new capital will speed up the tech company’s ability to come up with new products for Hispanics in the United States and also fund expansion into new markets.
Andreessen Horowitz, known as a16z, was founded by Marc Andreessen and Ben Horowitz.
QED Investors also joined in the round. The Alexandria, Virginia-based firm was co-founded by Nigel Morris, who also co-founded Capital One.
“We’re incredibly proud to back the team at Félix as they continue their mission to build better, more tailored financial tools for this underserved community,” said Ali Yahya, general partner at a16z crypto, in a statement issued on Sept. 1.
The new financing also includes $113 million in debt from General Catalyst, another respected firm based outside of Boston.
Félix, launched in 2022, was founded by Manuel Godoy, a native of Venezuela, and Bernardo García, originally from Mexico. They met at the Wharton School of Business and both live in Miami.
The company has processed more than $8 billion in remittances, when people send cash to their home countries, for over six million people in 11 Latin America countries. Mexico continues to be their leading market, but Colombia is also growing fast.
The new money will also help Félix develop new products and services around its AI-powered technology.
This story was originally published September 1, 2026 at 10:37 AM.
Miami Herald
Vinod Sreeharsha covers tourism trends in South Florida for the Miami Herald.