Faye Overview
Faye is focused on redefining insurance with its all-digital, consumer-centric travel insurance for Americans. The company's solution is designed to enable smarter, faster, smoother assistance and claims resolutions. Faye's whole-trip protection, paired with its proprietary technology, provides immediate 24/7 support anywhere in the world, quick reimbursements, and an app that allows users to do everything from covering their trips to filing claims.
Cumulative Funding Raised Over Time ($)
Latest News
growth-positive
Faye raises $31 million Series B for fintech platform for travelers | CTech
Travel startup Faye has raised $31 million in a Series B funding round, bringing its total funding to $49 million. The round was led by Portage and included participation from Lumir Ventures, F2 Venture Capital, Viola Ventures, and Munich Re Ventures. Faye offers a travel insurance app that provides comprehensive coverage, 24/7 assistance, real-time trip monitoring and alerts, and fintech solutions for payments and savings. The company plans to use the funding to further expand its offerings and invest in growth, with a goal of reaching $100 million in revenue within two years.
InvestmentExpand
growth-positive
Meet Faye, Israel’s Most Promising Startup of 2024 | CTech
Faye, a startup that offers a platform combining real-time travel insurance, travel care, travel intelligence, and financial solutions, has been named Israels most promising startup in 2024. The companys technology is deployed in all 50 U.S. states and was chosen by the Wall Street Journal as its product of the year. Since its founding in 2019, Faye has raised $20 million from investors including Viola, F2, and Munich Re. Fayes CEO, Elad Schaffer, emphasized the importance of the companys team and its commitment to caring for travelers.
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growth-positive
"עבור האמריקאים, פיי הפכה להיות חלק מהדרכון" | כלכליסט
Israeli insurtech start-up Faye is disrupting the US travel insurance market, which has only recently begun to wake up. Fayes founders, Elad Shapira and Daniel Green, aim to be a travel fairy that assists at every stage of the trip. The companys app allows users to build their insurance coverage and receive immediate refunds in the event of an insurance claim, without the need for a tedious billing process. Faye, which currently operates only in the US, began selling its insurance two years ago and has been growing rapidly since then. The company employs 60 people, 40 of whom are in Israel.
CustomersExpand
growth-positive
Travel insurtech startup Faye lands $10 million in Series A | CTech
Travel insurance startup Faye has raised $10 million in Series A funding, bringing its total funding to $18 million. The funding will support the companys growth as it plans to quadruple its revenue in 2023. Faye offers travel insurance coverage for flights, hotels, health, luggage, and pets through its app. Users can file claims digitally and receive quick payments via Faye Wallet, a digital debit card. The company also recently launched its Travel Advisor Portal to help travel advisors and agencies manage travel insurance. Fayes unique approach combines travel insurance with real-time assistance, trip alerts, a 24/7 concierge, and financial support.
InvestmentExpand
growth-positive
Travel Insurance Startup Faye Named Must-Download Travel App In 2022 By Fodor's Travel
Faye, a travel app, has been named one of the top must-download travel apps of 2022 by Fodors Travel. As travel opens up again after COVID-19, the demand for travel apps is increasing. Faye offers a modern take on travel insurance, providing whole-trip coverage and care. The companys coverage includes protection for COVID-19-related scenarios, such as trip cancellations and medical expenses. Fayes app allows users to file claims, receive reimbursements, and chat with customer experience agents. The company aims to provide a person-first experience and ensure travelers feel safe and looked after. The article emphasizes the importance of travel and the desire for travel experiences beyond screens. Faye is positioned to benefit from the growing demand for travel and the need for travel insurance.
CustomersExpand
| Sector | Fintech & Insurtech |
Funding
| Total funding | $49M |
| Last funding | $31M |
| Stage | B |
| Rounds | 3 |
| Investors | 10 |
Team Members
3
Employees: 51-200
Web & Social Links
| Website | www.withfaye.com/ |
| Careers | Careers page |
| App Store | App Store |
| Google Play | Google Play |
Locations
Tel Aviv, Israel
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