Faye raises $10 million

Faye closed a $10 million Series A funding round led by Munich Re Ventures , bringing its total funding to $18 million.

Founded in 2019, the Israeli insurance startup offers coverage for travelers’ trips, health, belongings and pets. In the Faye app, travelers can file claims and receive reimbursement via its Faye Wallet, which works similarly to Apple Pay and Google Pay, within 48 hours. The app also sends travelers real-time protective alerts and provides 24/7 customer support.

Coverage is underwritten by Crum & Forster.

The company is a team of around 40 people, according to LinkedIn Data, led by co-founder and CEO Elad Schaffer.