Africa’s vibrant tourism economy is getting a significant fintech boost with South African startup TurnStay raising over R34 million in pre-seed funding. Led by First Circle Capital, the round saw participation from TLCom Capital, Enza Capital, Incisive Ventures, and Evergreen—demonstrating strong investor confidence in the continent’s travel-tech innovation space.
At the heart of TurnStay’s mission is one of Africa’s most pressing travel bottlenecks: cross-border payments. African travel operators frequently face exorbitant card processing fees, delayed settlement cycles, and frequent transaction failures. These issues not only reduce booking conversion rates but also inhibit growth for small and medium-sized travel businesses.
TurnStay, founded by fintech veterans, is tackling these problems head-on with a cutting-edge payments platform tailored specifically for the tourism and hospitality industry in Africa. Their solution merges a merchant-of-record model with blockchain-based stablecoin settlement—enabling faster, more affordable, and secure payment processing.
According to TurnStay, their technology can cut transaction costs by up to 70%, directly boosting revenue margins for local tour operators, lodges, and hospitality providers. This transformation allows African travel businesses to compete more effectively on the global stage by retaining more revenue and offering seamless booking experiences to international tourists.
A Breakthrough in Cross-Border Payments
One of the most compelling aspects of TurnStay’s model is its ability to accept payments from global travelers in multiple currencies while settling locally in South African rand (ZAR). This flexibility is crucial for travel companies operating in regions where foreign exchange access is restricted or volatile.
Furthermore, by reducing reliance on global online travel agents (OTAs)—who often charge between 15–30% in commissions—TurnStay empowers African businesses to process direct bookings more efficiently. This not only increases profitability but strengthens brand loyalty and trust between travelers and local service providers.
The inclusion of stablecoins, which offer price stability and low transaction fees compared to traditional bank wires or card payments, provides a significant edge in a continent where many countries still face currency instability and limited access to traditional financial infrastructure.
Tourism: A Cornerstone of Africa’s Economy
The tourism industry remains a major economic driver in Africa, contributing over R1.8 trillion annually and supporting more than six million jobs continent-wide. From the safaris of Kenya and Tanzania to the beaches of Mozambique and South Africa’s wine routes, Africa’s tourism offerings are as diverse as they are globally appealing.
Yet despite its potential, the industry has long been held back by inefficient and costly financial systems. TurnStay’s emergence addresses a long-overdue need: a payment infrastructure that is as dynamic, agile, and inclusive as the industry it serves.
Strong Traction and Clear Vision
Since its launch, TurnStay has already processed over R250 million in travel-related transactions—an impressive achievement that underscores both demand and trust in the platform. The company had previously raised R5.7 million in an early pre-seed round, using that capital to establish its foundational technology and expand initial operations.
Now, with the fresh infusion of R34 million, TurnStay plans to scale its footprint across key African tourism hotspots including Kenya, Nigeria, Ghana, Egypt, and Rwanda. The funds will also support deeper product development, local talent acquisition, and onboarding of new clients in the hospitality and adventure tourism segments.
According to its leadership, TurnStay’s roadmap includes strategic partnerships with regional travel associations, integration with booking engines, and enhanced features for travel agents and tour operators.
Empowering SMEs and Driving Continental Change
One of TurnStay’s core objectives is to empower local travel SMEs (small and medium-sized enterprises) by providing them with tools traditionally reserved for major players. Whether it’s access to real-time settlements, lower processing fees, or advanced reporting and analytics, the platform levels the playing field for thousands of African entrepreneurs.
In rural and less-developed tourism regions, the ability to receive payments quickly and securely can mean the difference between business survival and closure. TurnStay’s tech-driven model thus plays a vital role not just in economic growth, but in fostering financial inclusion within the travel ecosystem.
Looking Ahead: Africa’s Fintech-Travel Future
The future of African tourism is deeply intertwined with the continent’s fintech revolution. As more countries adopt digital strategies for economic recovery post-COVID, platforms like TurnStay are becoming central to enabling safe, transparent, and scalable financial ecosystems.
Industry observers expect that with TurnStay’s momentum, the broader travel sector in Africa could experience a payment transformation—unlocking new business models, expanding local entrepreneurship, and making African travel more accessible to global audiences.
As TurnStay prepares to unveil a new wave of innovations in cross-border payments, its recent funding round not only marks a personal milestone but signals a pivotal shift for Africa’s tourism-fintech narrative.
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