CTech Tech Atzmaut Elad Schaffer

Meet Faye, Israel’s Most Promising Startup of 2024

Co-Founder and CEO Elad Schaffer joined CTech to discuss the milestone for the company and its hopes for the travel industry 

“You know, we could talk all day about technological superiority. We can talk about how the product is better than what we already have in the market. We can talk about any other aspect that a startup typically takes pride in,” said Faye Co-Founder and CEO Elad Schaffer. “But for me, it's the DNA and the people in the company that really makes the difference. It's people who first and foremost truly care about the traveler.”
Schaffer made the remarks at an event celebrating Israel’s Most Promising Startups in 2024 - with Faye taking the top spot. The company has provided a platform offering a combination of real-time travel insurance, travel care, travel intelligence, and financial solutions when you travel. Faye’s technology is already deployed in all 50 U.S. states and last year the Wall Street Journal chose Faye's insurance solution as its product of the year in the field. Since its founding in 2019, it has raised $20 million from Viola, F2, and Munich Re.
“We've already established ourselves as a leading, and I would say, even favorite travel insurance provider. Now we want to take it to the next level by really being your companion and protector when you travel,” Schaffer added. “You want Faye to be synonymous with travel as much as your passport and perhaps your phone is.”
You can watch the entire exchange in the video above.