Faye, a travel insurance company using AI to automate claim approvals, has raised $50 million in Series C funding led by Madrona Ventures. The round brings the company's total funding to $100 million, with sources valuing it at approximately $500 million. Other investors include BRM, Portage, F2 Venture Capital, Viola Ventures, and Lumir Ventures. The funding will support expansion of partnerships with airlines, hotels, and online travel agencies whilst scaling its automated claims technology. Faye offers travel insurance covering flight disruptions, medical emergencies, and lost baggage. The policies are sold either directly through its app or embedded within partner booking flows.

Feathery, an AI operating and decisioning system for financial services, has raised $30 million in total funding, including a recently completed Series A. The round was backed by Portage Ventures, Index Ventures, Allstate Strategic Ventures, Clocktower Ventures, Erie Strategic Ventures, and Bain Capital Ventures. The San Francisco-based company serves over 300 firms across insurance and wealth management. Its platform collects and structures client information, synchronises systems of record, and normalises data across surfaces. The AI decisioning system analyses business data, surfaces insights, and feeds learnings back into workflows to drive automation. Feathery processes tens of millions of monthly submissions and powers workflows including client onboarding, proposal generation, account opening, and policy checks. The company plans to use the funding to expand products that enable faster decision-making and seamless data movement across workflows.

Flex, an AI startup offering banking services for mid-sized businesses, has raised $70 million in a funding round led by Halo Fund. A source close to the deal said the B1 round valued the three-year-old company at around $1.2 billion, more than double its valuation six months ago. The company has now raised $180 million in equity and $300 million in debt. Flex targets mid-sized businesses earning tens to hundreds of millions of dollars in annual revenue, a segment CEO Zaid Rahman says is overlooked by traditional fintechs. Unlike AI startups focusing on individual tasks, Flex bundles private credit, business finance, personal finance and payment tools into one platform. The company said it has a few thousand customers and is growing roughly four-fold year-over-year at a nine-figure annualised revenue run rate.