Faye, the Tel Aviv- and U.S.-based digital travel insurance and assistance platform, has raised $50 million in a Series C round led by Madrona, with participation from BRM and existing investors Portage, F2 Venture Capital, Viola Ventures, and Lumir Ventures — bringing total funding to $100 million and pushing the company’s valuation to an estimated $500 million. CEO and co-founder Elad Schaffer said the company generated more than $100 million in revenue last year and is approaching profitability, having deliberately avoided raising excessive capital along the way. The new funding will go toward expanding AI across Faye’s platform — particularly automating claims processing and enabling faster payouts to travelers — as well as accelerating international expansion beyond its current 250 U.S. licenses, with a goal of going fully global within the next year. The company also plans to keep growing its workforce (currently 91 employees in Tel Aviv and 88 in the U.S.) and to pursue acquisitions in its sector. 

Travel Fintech Faye Raises $50M Series C at $500M Valuation