Hot 25 Travel Startups for 2025: Faye

Faye

Headquarters: Richmond, Virginia

CEO: Elad Schaffer

Website: Faye

Founding date: 2021

Investment: $49 million

 

Faye is a travel platform redefining insurance and assistance, enabling smarter and smoother trip taking. The company provides whole-trip protection, financial solutions, 24/7 care and real-time insights to holistically look after travelers' journeys across the globe.

PhocusWire coverage

Travel insurance startup Faye raises $31M in series B funding

Travel insurance startup Faye raises $10M

Faye collects $8M in funding for its travel insurance app 

Photo Credit: Founders Elad Schaffer and Daniel Green

Strategic goals for 2025

In the next year we plan to solidify Faye’s position as the highest-rated, most-beloved, fastest-growing innovator in the travel insurance space by continuing to emphasize what we have from the start: marrying a customer-centric approach with top-notch technology. But we won’t stop there — Faye will invest in building travel care and fintech solutions that drive massive value to hundreds of thousands of customers. A key initiative of ours will be to provide the best technology and service to our partners, primarily travel agencies and advisors. They’ll be in good company alongside major players like TravelJoy and Fora, a PhocusWire top 2023 travel startup.

Lessons learned since founding

You can, should and need to have the best technology and top-notch service. Which we do. But in the end, you win thanks to the people. When I say people, I mean our customers, our team and our partners. I'm proud to say that we have the best of all three — travelers that choose Faye again and again, top talent across the insurance and travel ecosystems who care deeply about our mission and like-minded partners that we get to work with on a daily basis to make sure their customers are receiving the best product on the market.