South Africa-based fintech startup TurnStay has landed $2 million in its seed round.
CEO and co-founder Alon Stern confirmed the news on LinkedIn.
“Super excited to share TurnStay has raised its seed round led by First Circle Capital with participation from TLcom Capital LLP, Enza Capital, Incisive Ventures, CV VC and Equitable Ventures,” Stern wrote, also extending congratulations to his co-founder, James Hedley.
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Founded in 2021, TurnStay helps streamline payments for African travel companies, allowing them to take bookings from travelers all over the world with “country optimized checkout pages.”
“We're thrilled to be backing TurnStay through their latest $2 million funding round,” Brenton Naicker, principal and head of growth for Africa at CV VC, wrote on LinkedIn.
“TurnStay is revolutionizing payments across Africa’s multi‑billion‑dollar travel sector. With over 250 million South African rand processed, they’re slashing payment costs by up to 70% for local operators using stablecoins and cross-border settlement rails.”
In a separate post, Hedley said the funding brings TurnStay “closer to our mission,” namely "reducing the friction of getting paid in the African travel industry and empowering merchants to compete globally.”