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 ($)
$31.0MJul 2024
$39.0MMay 2022
$49.0MMay 2023
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.
InvestmentExpand
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
Photos & Videos
No files yet
Faye Business
Business models
B2B2C, B2C, B2B
Product stage
Released
Employees
51-200
Sector
Fintech & InsurtechInsurtechTarget Customer
ConsumersRecreational & LifestyleTravellers & TouristsTravel & TourismTravelAirlinesTravel AgenciesFinancial ServicesFinancial ProductsInsuranceCore Technology
Artificial IntelligenceChatbotsMachine LearningTags (2)
travel-InsurancetraveltechGeographic Markets
North AmericaFaye Financials
$49M
Total funding
Undisclosed
Capital raised
$31M
Last funding
B
Funding stage
3
Total rounds
10
Investors
Cumulative Funding Raised Over Time ($)
$31.0MJul 2024
$39.0MMay 2022
$49.0MMay 2023
Private Equity Funding
B Round
Jul 2024
$31M
Portage Ventures (Lead)
,
Munich Re Ventures, Lumir Ventures, Viola Ventures, F2 Venture Capital
A Round
May 2023
$10M
Munich Re Ventures (Lead)
,
F2 Venture Capital, Menora Mivtachim Group, Mike Nelson, Viola Ventures
Seed
May 2022
$8M
F2 Venture Capital (Lead), Viola Ventures (Lead)
,
Global Founders Capital, Omri Casspi, Investible
Faye Lifecycle
Cumulative Funding Raised Over Time
$31.0MJul 2024
$39.0MMay 2022
$49.0MMay 2023
All Events
B Round
Jul 2024
$31M
Portage Ventures (Lead)
,
Munich Re Ventures, Lumir Ventures, Viola Ventures, F2 Venture Capital
A Round
May 2023
$10M
Munich Re Ventures (Lead)
,
F2 Venture Capital, Menora Mivtachim Group, Mike Nelson, Viola Ventures
Seed
May 2022
$8M
F2 Venture Capital (Lead), Viola Ventures (Lead)
,
Global Founders Capital, Omri Casspi, Investible
Faye News
8 articles
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.
InvestmentExpand
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
growth-positive
Faye Navigates 'New Normal' With Supportive Travel Insurance Platform
Tel Aviv-based startup Faye is redefining insurance for travelers with its all-digital platform. The company offers more than just financial reimbursement and travel claims, focusing on providing real-time assistance and proactive solutions to travelers needs. Fayes app covers trips, health, luggage, and pets, and includes features like real-time alerts, access to customer experience specialists, and quick claim processing. The platform also tracks trips and provides information on flight delays, cancellations, and changing COVID-19 restrictions. Faye aims to revolutionize the role of travel insurance by prioritizing customer support and assistance throughout the travel experience.
Customers
growth-neutral
כלכליסט - דף הבית - הודעת שגיאה
The article is about the website כלכליסט and its features, such as the פודקאסט and the ability to subscribe to notifications. It also mentions the option to subscribe to the newsletter and the availability of a personal profile. The article does not discuss any specific events or developments related to the company.
growth-positive
New travel insurer Faye launches coverage in the US
Faye, a digital insurance company, is offering a 100% digital and data-driven travel protection service. The company aims to provide smarter, faster, and smoother assistance to travelers through its app. Fayes whole-trip protection covers trip, health, and belongings, and offers add-ons such as Cancel For Any Reason, Pet Care, and Rental Car Care. It also provides coverage for non-refundable trip costs and medical expenses related to COVID-19. Faye is currently available in around 40 states in the US and plans to expand nationwide. The company will focus on hiring, customer acquisition, and optimizing its technology to ensure stress-free travel.
CustomersExpand
Faye Team
Employee Info
| Employees (range) | 51-200 |
| Exact count | 155 |
| Team members | 3 |
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Faye Internal
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Admin Info
| Confidence | 93/100 |
| Missing | tags, video or image, markets |
| BI Verification | Jenny Sotnik-Talisman |
| Registrar ID | 516177029 |
| Crunchbase | zenner-israel |
| Creator | Elad Schaffer |
| Creator email | elad.schaffer@gozenner.com |
| Last updater | Jenny Sotnik-Talisman |
| Updater email | jenny.sotnik@sncentral.org |
| Last update | 2024-07-30T00:00:00.000Z |
| Created | 2019-11-14T00:00:00.000Z |
| Claimed | Yes |