Félix 💸

send money abroad

setting the scene

  • millions of American immigrants work to support themselves and their families living in their native countries 💸
  • to send money across borders, these individuals have two options:
    • wait in long lines at the bank or post office and pay a large fee 💰
    • use online money transfer platforms that are difficult to navigate and prone to scams 🙄
  • this week’s company disrupts how people send money abroad by eliminating the wait time, large fees, and inefficient technology 💡

in a sentence

Félix is a tool that enables users to send money to LatAm countries 

  • tool: a WhatsApp chatbot that asks users the amount and recipient of the remittance
  • LatAm: currently available in Mexico and expanding to other Latin American countries

bulleted version: similar to how a banker or post office clerk helps you send money abroad, Félix provides an automated chatbot that puts the experience right in your pocket 📱

the basics

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due diligence

what we like

  • 📈 market: out of the $605b in remittances sent in 2021, ~$125b were sent to Latin America and the Caribbean, up 26% from the previous year
    • Mexico is the ideal entry market, with over $50b sent last year
  • 💪🏾 flexing on the competitors: Félix provides an inexpensive and easy alternative to banks and the postal service while maintaining the personalized experience missing from tech-enabled solutions
  • 💬 WhatsApp: by reaching the target audience where they already are, Félix will be able to efficiently acquire customers and expand quickly to fit their needs

potential risks

  • 📊 market players: for the past decade, money transfer startups have come and gone, but legacy companies have held onto a majority of market share
  • 🔁 no recurring revenue: Félix earns a fee for every transaction, and the company’s revenue is reliant on consumer demand to send money
  • 🥷🏻fraud risk: while Félix has developed a comprehensive security program to protect users from fraud, scammers have historically targeted online money transfer applications
weekly cartoon

founder profiles


why Félix: with 50% monthly growth, 60% retention, and positive customer feedback, Félix’s personalized and affordable solution for sending remittances hits its customers’ pain points on the money 💵

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