South African fintech TurnStay has raised $2M to streamline payments in Africa’s travel and hospitality sector. A strategic step toward solving one of the biggest pain points of African tourism: fragmented and costly financial systems.
Africa’s tourism industry is rebounding strongly but still struggles with fragmented, unreliable, and costly payment systems. To address this challenge, South African fintech TurnStay has secured $2 million in seed funding, led by First Circle Capital with participation from TLcom Capital, Enza Capital, Incisive Ventures, CVVC, and Equitable Ventures.
Founded by Alon Stern (formerly of Slide Financial) and James Hedley (co-founder of Quicket), TurnStay offers a platform that simplifies payments for hotels, travel agencies, and travelers. Its key strengths: faster settlements, lower transaction fees, and secure cross-border payments — enhanced with analytics tools to help businesses boost profitability and financial management.
Since a confidential funding round in 2024, TurnStay has already processed over 250 million rands in payments and onboarded major clients. With this new capital, the startup plans to:
By tackling one of African tourism’s biggest bottlenecks, TurnStay aims to create a reliable, Africa-focused payment ecosystem, enabling the industry to shift its focus back to customer experience and sustainable growth.
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