Lumir Ventures Invests in Faye to Redefine Travel Insurance

July 30, 2024—Lumir Ventures is proud to announce its participation in Faye’s $31M Series B funding round, bringing the company’s total funding to $49M. This investment aligns with Lumir’s commitment to supporting innovative companies redefining industries.

Faye is an all-digital personalized travel insurance and assistance platform that has achieved remarkable growth since its launch in 2022. Its original approach to travel protection, which integrates comprehensive insurance coverage with real-time assistance and financial solutions, is a far superior user experience driving strong customer loyalty and rapid growth. The company has seen its sales grow tenfold year-over-year, earning consistent 5-star reviews and accolades, including being named a top travel insurance provider by The Wall Street Journal. Faye was also recognized as #1 ranked on CTech’s list of 50 Most Promising Israeli Startups - 2024.

Elad Schaffer, Faye’s Co-Founder & CEO, stated, “In just two years, Faye has become the most-loved, fastest-growing, and highest-rated company in our space. Our relentless focus on delivering the best technology and highest level of customer care has set a new standard for the industry.”

The Lumir Ventures team began following Faye shortly after its initial launch to market, maintaining close contact with the founders and diligently monitoring business progress. Impressed by its excellence in execution, rapid product innovation, and positive market adoption and growth, Lumir Ventures joined Faye’s Series B funding round, to position the business for continued expansion and innovation.

As Faye prepares to scale its operations and introduce new products, Lumir Ventures remains committed to supporting its mission to provide travelers with the best insurance experience through tech-driven holistic coverage and care. Lumir is excited to be part of Faye’s journey and looks forward to seeing it become every American’s travel protector and companion.

Faye’s Series B funding round was led by Portage Ventures with participation from Lumir Ventures, F2 VentureCapital, Viola Ventures, and Munich Re Ventures.

For more information about Faye’s innovative travel solutions, visit withfaye.com.