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TurnStay Secures $300,000 Funding to Expand Travel Payment Solutions Across Africa
South African travel technology company TurnStay has secured a $300,000 funding round from DFS Lab and Digital Currency Group (DCG), both headquartered in the United States. This investment will fuel TurnStay’s expansion efforts across Africa and solidify its presence in the local market.
TurnStay is a fintech company focused on simplifying payment procedures for international travelers in Africa. They leverage a global network of compliant companies to streamline the process, aiming to reduce the high costs often associated with processing international transactions in the travel and tourism industry.
Boosting African Travel and Tourism
This investment is a significant boost for TurnStay and the African travel and tourism sector as a whole. The African travel industry is projected to reach a revenue of $24.42 billion by 2024 and TurnStay’s solution empowers travel businesses to capture a larger share of this growing market.
Empowering Businesses, Benefiting Travelers
By reducing merchant fees associated with credit card processing, TurnStay allows African travel and tourism businesses to get paid more efficiently. This translates to a direct boost in profitability for travel and tourism businesses throughout the continent. Additionally, travelers benefit from a smoother payment experience without incurring exorbitant fees.
Looking Ahead: Expansion and Growth
TurnStay plans to utilize the secured funding to expand its operations into new African markets. This strategic move positions them to capitalize on the burgeoning African travel sector and establish themselves as a leading provider of travel payment solutions across the continent.
About TurnStay
TurnStay, co-founded by experienced entrepreneurs Alon Stern and James Hedley, is a South African travel-focused fintech company. Their mission is to revolutionize travel payments in Africa by offering a cost-effective and user-friendly solution for both businesses and travelers.
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