Faye Raises $50M Series C
Faye, based in Richmond, Virginia, is a leading AI-powered travel protection platform that announced it has raised $50 million in Series C funding. This latest round brings the company's total funding to $100 million.
The funding round was led by Madrona. Participating investors included BRM, Portage, F2 Venture Capital, Viola Ventures, and Lumir Ventures.
Faye plans to use the new capital to accelerate its growth through geographical expansion into new international markets. The company will also grow its partnerships with online travel agencies, airlines, cruise lines, and other travel brands. Additionally, the funds will be used to double down on AI investments to improve underwriting, traveler assistance, and claims processing, with a goal of achieving more autonomous claims resolution. The company also intends to expand its travel fintech capabilities via the Faye Wallet.
Founded in 2022 by Elad Schaffer, Faye provides a holistic travel platform that combines insurance, real-time intelligence, and proactive financial solutions. Its product suite includes an app for traveler protection, distribution platforms for travel agencies and airlines, and AI-driven policy and claims management tools.
Funding Details
Company Website: https://withfaye.com
Company: Faye
Raised: $50M
Round: Series C
Funding Date: August 5, 2026
Lead Investor: Madrona
Additional Investors: BRM, Portage, F2 Venture Capital, Viola Ventures, Lumir Ventures
Company Website: www.withfaye.com
Software Category: Travel Tech