TurnStay, a South African fintech company specialising in travel and tourism payments, recently secured a funding round of $300,000 (over R5.4 million).

The investment comes from leading Silicon Valley and New York-based investors, including DFS Lab and DCG. Africa’s travel and tourism industry is booming, with stunning landscapes, vibrant cultures, and diverse experiences attracting visitors from all corners of the globe.

But for businesses in this sector, managing payments can be a complex and costly affair. Enter TurnStay, which is transforming the way travel companies process payments and manage bookings.

Slashing Costs, Boosting Bookings:

TurnStay empowers travel businesses, from hotels and lodges to tour operators and car rentals, with innovative payment solutions designed to streamline their operations and maximise profits.

This is facilitated by leveraging cutting-edge technologies similar to those used by major booking platforms worldwide. This translates to significant cost savings. TurnStay boasts reductions of up to 70% on payment processing fees compared to traditional methods.

With TurnStay, travel businesses can say goodbye to costly fees and hello to healthier profit margins. But the benefits go beyond cost reduction.

Tanzanian Fintech Startup NALA Raises $40 Million in Series A Funding Led by Acrew Capital

TurnStay also helps businesses improve conversion rates by reducing unnecessary transaction declines. Additionally, they offer a localised checkout experience, allowing clients to pay in their home currency for a smoother booking experience.

This focus on the user experience ultimately translates to more satisfied customers and potentially increased bookings.

Fueling Growth Across the Continent:

TurnStay’s recent funding round of over R5.4 million (approximately . $300,000) from leading Silicon Valley and New York-based investors is a testament to their innovative approach and exciting growth prospects.

This investment will fuel their ambitious expansion plans across Africa, bringing their cost-saving and efficiency-enhancing solutions to a wider range of travel businesses.

The company also plans to invest in the further development of its technology platform. This could involve introducing new features, enhancing existing functionalities, and creating new services tailored to the specific needs of the evolving African travel landscape.

Solid Foundation, Innovative Approach:

The team behind TurnStay is another key ingredient in their success story. Founders Alon Stern and James Hedley bring a wealth of experience from their previous ventures in fintech and event ticketing.

Their deep understanding of the challenges faced by businesses in managing finances and processing transactions has undoubtedly shaped TurnStay’s innovative solutions.

The Problem They Solve:

Travel businesses in Africa often struggle with high booking commissions and fees. These can eat into profits significantly, with estimates suggesting that booking and payment fees can account for up to 18% of a travel company’s revenue. Additionally, processing international payments can be expensive, further squeezing profit margins.

TurnStay’s Impact:

TurnStay tackles these challenges head-on. They help travel businesses reduce payment fees by up to 70%, empowering them to take control of their booking costs and ultimately increase profitability.

Their localised checkout experience and focus on customer satisfaction provide an additional advantage, attracting more bookings and fostering a thriving travel ecosystem.

MOGO Kenya Secures Ksh1 Billion for EV Push in Kenya

Measurable Success:

TurnStay isn’t just making bold claims; they’re delivering real results. They’ve already processed over 31 million transactions, saving their clients a remarkable $350,000 in fees.

These translated into a 30% increase in profits for those businesses, a concrete testament to the power of TurnStay’s innovative approach.

The Future of Travel Payments in Africa:

With its focus on cost reduction, efficiency, and user experience, TurnStay is well-positioned to become a game-changer in Africa’s travel and tourism industry.

Their continued growth and innovation will not only benefit travel businesses but also contribute to creating a more seamless and rewarding experience for travellers exploring the wonders of Africa.