About Faye
Faye is a company based in Newark (United States) founded in 2019 by Daniel G and Elad Schaffer. It operates as a Subscription Services. Faye has raised $49 million across 3 funding rounds from investors including Munich Re, Portage and Lumir Ventures. Faye offers products and services including Travel Insurance and Telemedicine Access. Faye operates in a competitive market with competitors including SafetyWing, Elves, LoungeBuddy, SkySquad and Damoov, among others.
- Headquarter Newark, United States
- Founders Daniel G, Elad Schaffer
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Sectors
TechnologyTravel & Hospitality Financial Services
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Email
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Phone
*********
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Website
*********
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Social
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- Legal Name Zenner, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$49 M (USD)
in 3 rounds
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Latest Funding Round
$31 M (USD), Series B
Jul 30, 2024
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Investors
Munich Re
& 9 more
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Employee Count
Employee Count
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Products & Services of Faye
Faye offers a comprehensive portfolio of products and services, including Travel Insurance and Telemedicine Access. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Travel insurance plans are offered for protection.
Access to telemedicine doctors is provided globally.
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Funding Insights of Faye
Faye has successfully raised a total of $49M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $31 million completed in July 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $31.0M
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First Round
First Round
(11 May 2022)
- Investors Count 10
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2024 | Amount | Series B - Faye | Valuation | Portage | |
| May, 2023 | Amount | Series A - Faye | Valuation | Munich Re Ventures | |
| May, 2022 | Amount | Seed - Faye | Valuation | Viola Group , F2 Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Faye
Faye has secured backing from 10 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Munich Re, Portage and Lumir Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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A global fintech and financial services investment platform is operated.
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Founded Year | Domain | Location | |
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Investments are directed toward early and mid-stage tech startups.
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Founded Year | Domain | Location | |
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Early-stage venture capital investing in Israeli startups across technology and innovation sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Faye
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Faye
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Faye Comparisons
Competitors of Faye
Faye operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as SafetyWing, Elves, LoungeBuddy, SkySquad and Damoov, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Online travel insurance is provided for nomads and individuals.
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| domain | founded_year | HQ Location |
Chat-based concierge assistance for bookings and purchases is offered.
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| domain | founded_year | HQ Location |
Mobile app to access information and book airport lounges
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| domain | founded_year | HQ Location |
Airport assistance is facilitated via an online platform for passengers.
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| domain | founded_year | HQ Location |
Provider of telematics & web-based fleet management solutions
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Faye
Frequently Asked Questions about Faye
When was Faye founded?
Faye was founded in 2019 and raised its 1st funding round 3 years after it was founded.
Where is Faye located?
Faye is headquartered in Newark, United States. It is registered at Newark, New Jersey, United States.
Who is the current CEO of Faye?
Elad Schaffer is the current CEO of Faye. They have also founded this company.
Is Faye a funded company?
Faye is a funded company, having raised a total of $49M across 3 funding rounds to date. The company's 1st funding round was a Seed of $8M, raised on May 11, 2022.
What does Faye do?
Customizable travel protection plans are offered by Faye under Zenner, Inc. Coverage includes emergency medical expenses, trip cancellations, and baggage loss. Services extend to telemedicine access and 247 assistance. Solutions cater to domestic, international, and cruise trips with various add-ons like pet care and rental car protection. The focus is on seamless claims processing and real-time travel updates for customers worldwide.
Who are the top competitors of Faye?
Faye's top competitors include SafetyWing, Elves and LoungeBuddy.
What products or services does Faye offer?
Faye offers Travel Insurance and Telemedicine Access.
Who are Faye's investors?
Faye has 10 investors. Key investors include Munich Re, Portage, Lumir Ventures, F2 Venture Capital, and Viola Group.
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