Felix is making it easier for immigrants to send money to their loved ones

Felix pago image
Client Stories
Matthew Walsh
May 25, 2022

Prior to joining Treasure as Customer Success Manager, I began my career working in hotels, where I would sit in the employee break room with immigrants mostly from Latin America. While eating lunch I would talk to everyone, but no one impressed me more than Gloria! Gloria had come to LA in hopes of a better life for herself and her family. After many tableside chats, I found out that most if not all of her family was still in Mexico. She would send them money every paycheck and lived in a small apartment over an hour away from the hotel with other women in the same situation.

I thought to myself , "How can anyone afford to live in LA and send more than 50% of their paycheck to family?" I was lucky in the sense that I was working to provide myself with a better life, but I had no family to take care of, and I had no real financial responsibilities other than rent. Here was a woman cleaning 20 rooms a day and then working a night job to provide a dream her children had not yet even dreamt of.

When Felix Pago became a client I was taken back to those conversations I had with Gloria and others like her. Felix is solving a problem I witnessed so many people I cared about struggle with: Finding a secure and cost-effective solution to sending money back to their loved ones.

In the lunch break room, I saw housekeepers and other employees, getting their Western Union checks ready to mail out and paperwork together to head to the closest Western Union after work. I remember thinking, this isn't a break at all. If Felix was around then, Gloria and others would have been able to actually enjoy their break by sending money back home as easily as sending a text!

Felix is a chat-based platform to enable people from Latin America living in the US to send money abroad. They combine Blockchain and AI to make remittances as easy as a Venmo with the human feel of Lemonade. They are serving millions of people from Latin America in the US who collectively send over $120 billion every year. Most of these transactions, which average roughly $300, still happen in cash at stores, like Western Union.

"As an early-stage company, we deeply care for each dollar. That's why we are excited to work with Treasure. Having known Ben, Treasure's co-founder, from before, I already had the confidence that my idle funds would be taken care of. But now, after seeing the yields generated after a few months, I am a very happy customer." - Manuel J. Godoy, Co-Founder Felix

Putting the spotlight on our clients and what they are building is truly special. What's even more special is knowing that at the heart of Treasure's ethos is the human connection we provide to our clients and the connection our clients bring back to us. Knowing that this one, simple financial decision of opening a Treasure account has unlocked new possibilities for our clients is what keeps the drive going!

Open your Treasure account today and utilize treasury management just as the Fortune 500 companies have been for decades. In less than 10-minutes, you can complete a Treasure account application, connect your bank accounts and start to earn returns on cash otherwise sitting idle.

More from the Blog

TreasuryBusiness Cash Management
Business Cash Management: A Quick Guide

Understanding cash inflows and outflows as well as how to manage risk and idle cash for your business.

Read More
TreasuryIdle Business Cash
What is Idle Cash? A Guide

A quick guide to idle cash and idle cash management for businesses.

Read More
The Impact of the Debt Ceiling on Treasury Bills and Cash Management

The Debt Ceiling's potential impact on Treasury bills and cash management. Why the ongoing political environment requires experienced treasury management to minimize risk and seize potential opportunities.

Read More