AI-Powered Travel Insurance Company Raises USD 50 Million

Travel-insurance technology company Faye has raised USD 50 million in Series C funding, taking its total investment to USD 100 million and reported valuation to around USD 500 million. The company provides insurance for flight disruptions, medical emergencies and lost baggage through its own application and partner booking platforms. Around 30% to 40% of claims are already processed automatically, with the company targeting more than 50% by year-end. Artificial intelligence is used to speed up approvals, while claim denials remain subject to human review. The funding will support expansion into airline, hotel, cruise and online travel partnerships and additional international markets.