Introduction
TurnStay, a South African travel-focused fintech, has successfully raised $300,000 (over R5.4 million) from Silicon Valley and New York investors DFS Lab and DCG. The company plans to leverage this funding to expand its operations across Africa and build on its significant market traction.
Founders and Vision
Founded by experienced entrepreneurs Alon Stern, co-founder of Slide Financial, and James Hedley, co-founder of Quicket, TurnStay aims to reduce payment costs for African merchants and platforms in the travel and tourism industry. By employing strategies utilized by the world’s largest booking companies, TurnStay seeks to revolutionize the African travel market.
Investor Confidence and Industry Impact
Stephen Deng, General Partner at DFS Lab, expressed strong confidence in TurnStay's potential, stating, “TurnStay is building a much-needed offering for the African travel and tourism industry, one that unlocks substantial cost savings for hospitality businesses across the continent. We believe the founders are the perfect team to tackle this opportunity, combining deep industry experience with a proven history of shipping market-leading products.”
Strategic Importance and Future Prospects
Deng further highlighted the strategic importance of TurnStay's innovations, saying, “DFS Lab backs founders who use tech to redefine what’s possible in African digital commerce. TurnStay not only fills a critical niche, but we believe what they’re building will raise the bottom line for the African travel and tourism industry.”
