Faye secures $50M for geographic expansion, AI developments

Travel protection platform Faye announced $50 million in Series C funding led by Madrona, bringing total funding to $100 million. The capital will be used for market expansion, partnerships, and AI investment to make underwriting, traveler assistance, and claims faster and more autonomous. The company anticipates AI will resolve more than half of all claims by the end of 2026. Faye also plans to expand its travel fintech capabilities.