Faye hopes to do for travel insurance what Lemonade did for general insurance

In an ideal world, travel insurance would be easier to understand, would pay out quickly when things go wrong and operate almost like Apple Pay or Google Pay in its simplicity. New “whole-trip travel insurance” startup Faye — which exited stealth mode last month — hopes to bring that kind of vibe with its approach, and now it’s raised backing to do it.

The startup has pulled in $8 million in a seed funding round led by Viola Ventures and F2 Venture Capital. Also participating was Portage Ventures, Global Founders Capital (GFC) and former NBA player Omri Casspi.