TurnStay

Based in Cape Town, South Africa, and founded in 2021 by Alon Stern and James Hedley, TurnStay operates as a financial technology company offering payment solutions for the African travel industry. In August 2025, TurnStay raised ZAR 34 million in seed funding led by new investor First Circle Capital, with participation from other new investors TLCom Capital, Enza Capital Management, Incisive Ventures, CV VC, and Equitable Ventures. Other unspecified investors also participated in the round. TurnStay's platform, as of December 2024, has processed over 31 million transactions, saved clients costs and improved their profitability by 30%.

TurnStay offers booking technology that enables African travel businesses to reduce payment processing fees, improve conversion rates, and increase direct bookings. The company’s services include an API for easy integration, allowing businesses to create customized checkout flows and settlement cycles. TurnStay’s platform also helps clients localize their payment processes, enabling them to bill international clients in their home currency and avoid high foreign exchange fees. The company’s offerings cater to a variety of payment needs, including sending payment links, processing virtual cards, and handling MOTO payments for deposits.

TurnStay generates revenue through transaction-based fees and platform usage by travel merchants. The company earns income by facilitating global bookings for African travel providers, charging reduced booking and payment fees through its optimized checkout infrastructure. The company will use the August 2025 funding to accelerate its expansion across African travel markets and deepen its fintech infrastructure. The funding is earmarked for scaling product integrations, enhancing developer APIs, and optimizing checkout flows for cross-border bookings.

TurnStay also plans to onboard more regional travel operators and strengthen its presence in underserved tourism corridors, positioning itself as a leading payment and booking gateway for Africa’s travel economy.