South African travel-focused fintech, TurnStay, has raised $300,000 in funding from Silicon Valley and New York-based investors DFS Lab and DCG.
Details
The company said in a statement that it plans to use the funding to expand the business into Africa and build on the significant traction already achieved.
Founded by entrepreneurs Alon Stern, co-founder Slide Financial, and James Hedley, co-founder Quicket, TurnStay reduces the cost of getting paid for African merchants and platforms in travel and tourism by using strategies used by the world’s biggest booking companies.
How It Works
TurnStay’s payment option is embedded and integrates with leading booking engine providers such as Benson Software.
Merchants’ benefits include lower card fees, a better checkout experience, and more direct bookings, which allows properties to compete with online travel agencies with improved conversion rates.
What They’re Saying
“Securing funding from these US investors is a vote of confidence in our business model, which has already processed more than R50 million in transactions. ‘’ stated Alon Stern, TurnStay CEO,
‘’TurnStay creates a localised payment experience, charging clients in their home currency using familiar payment methods when booking accommodation. TurnStay’s solution has reduced costs for some clients by 70% and halved the number of unnecessary failed transactions. With a better checkout experience, sales conversion rates soar.”
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