Lumir Ventures has invested in Faye's $31M Series B funding round, marking a total funding of $49M to enhance its innovative digital travel insurance platform.

Target Information

Faye is an innovative digital platform specializing in personalized travel insurance and assistance services. Launched in 2022, the company has demonstrated impressive growth and has revolutionized the travel protection sector by integrating comprehensive insurance coverage with real-time assistance and financial solutions. Faye's unique approach has established a superior user experience, which has enabled the company to achieve significant customer loyalty and rapid scaling. Since its inception, Faye has increased its sales tenfold year-over-year, earning a reputation for excellence as reflected in consistent 5-star customer reviews and industry accolades.

Notably, Faye has been recognized as a top travel insurance provider by The Wall Street Journal and was ranked as the #1 company on CTech’s list of 50 Most Promising Israeli Startups in 2024. The success and accolades affirm Faye’s position as a leader in its field, highlighting its innovative solutions tailored to enhance the travel experience.

Industry Overview

The travel insurance industry is undergoing transformation, driven by the increasing demand for seamless travel experiences and customer-centric insurance products. In Israel, this sector has witnessed a surge in technological advancements