Faye
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Investors
Founders
About
Faye is a Richmond, Virginia–based travel-insurance and traveler-care platform founded in 2022 by Elad Schaffer (CEO) 12. The company sells whole-trip protection covering medical, delays, cancellations, baggage, and other travel disruptions, and is building an AI layer to make underwriting, traveler assistance, and claims payments faster and increasingly autonomous 13. Faye distributes both direct-to-consumer and through partnerships with online travel agencies, airlines, and cruise lines 1.
Disclaimer: This is a lean profile built from initial round coverage and may be expanded as more information becomes available.
Funding History
| Date | Round | Amount | Lead | Co-investors |
|---|---|---|---|---|
| 2026-08-05 | Series C | $50M | Madrona Venture Group | BRM, Portage, F2 Venture Capital, Viola Ventures, Lumir Ventures 123 |
The Series C brings Faye’s total capital raised to $100M and was raised at an estimated $500M valuation 2. Portage, F2 Venture Capital, Viola Ventures, and Lumir Ventures participated as existing backers 1.
What Investors Say
“Travel is finally being rebuilt around the traveler, and Faye is emerging as the brand people reach for to take care of all their needs before, during, and after their trip.” — Steve Singh, Managing Director, Madrona 1
What Founders Say
“Travelers deserve more than traditional protection—they deserve a platform that anticipates their needs and supports them throughout their journey.” — Elad Schaffer, Co-Founder & CEO, Faye 1
Sources
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Faye, “Faye Takes Off With $50M Series C to Build Autonomous Platform for Traveler Care,” PR Newswire, August 5, 2026. Accessed August 2026. https://www.prnewswire.com/news-releases/faye-takes-off-with-50m-series-c-to-build-autonomous-platform-for-traveler-care-302843627.html↩↩↩↩↩↩↩
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Calcalist, “Travel fintech Faye raises $50 million Series C at estimated $500 million valuation,” August 5, 2026. Accessed August 2026. https://www.calcalistech.com/ctechnews/article/bjh1l9l8gx↩↩↩
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Skift, “Faye Raises $50 Million, Bets on AI to Get Travel Insurance Claims Paid in Minutes,” August 5, 2026. Accessed August 2026. https://skift.com/2026/08/05/faye-raises-50-million-bets-on-ai-to-get-travel-insurance-claims-paid-in-minutes/↩↩