South African travel fintech TurnStay has secured $2 million in seed funding to expand its pioneering payment platform for regional tourism operators. The round was led by First Circle Capital, with participation from TLCom Capital, Enza Capital, Incisive Ventures, CVVC, and Equitable Ventures. With this investment, TurnStay aims to tackle one of the travel industry’s biggest pain points—cross-border payments.
Simplifying Payments for Local Operators
TurnStay was co-founded by Alon Stern, formerly of Prodigy Finance, and James Hedley, co-founder of ticketing platform Quicket. The company uses a merchant-of-record model and advanced payment orchestration to enable African tour operators to accept card payments from international customers while settling funds locally via stablecoins. This system helps reduce transaction fees by up to 70 percent and improves cash flow by speeding up settlement times significantly.
Empowering Direct Bookings and Integration
The platform is designed to integrate seamlessly with existing booking engines and property management systems, making it easy for operators to implement. By offering direct bookings, TurnStay eliminates the need for global online travel agencies that often charge high commissions and delay payouts. This positions local tourism businesses to retain more revenue while improving the customer experience.
Strong Growth and Industry Adoption
Since raising a $300,000 pre-seed round in mid-2024, TurnStay has processed over R250 million in transactions. It has also secured partnerships with key players in the tourism sector, reflecting growing trust in its technology and business model. The company’s rapid traction signals both strong market demand and the team’s capability to scale its offering effectively.
Solving a Long-Standing Industry Challenge
Cross-border payments have historically been one of the most unpredictable and costly aspects of running a travel business in Africa. TurnStay’s approach addresses this directly, offering a transparent, fast, and affordable alternative to traditional payment systems. Its use of stablecoins provides further stability in a region often impacted by currency volatility and settlement delays.
A Founding Team with Fintech Expertise
The leadership behind TurnStay brings deep experience in global fintech and travel technology. Alon Stern’s background at Prodigy Finance and James Hedley’s work in ticketing with Quicket equip them with the expertise to build scalable, secure infrastructure for the travel industry. Their combined operational knowledge offers a strong foundation for long-term growth.
With its innovative model, fast-growing transaction volume, and backing from respected investors, TurnStay is poised to reshape how payments work for African tour operators. The platform enables businesses to stay competitive in a global market by removing barriers related to cost, speed, and complexity in payments. As the tourism sector rebounds, TurnStay is emerging as a crucial enabler of financial efficiency and growth for local operators.