African Fintech TurnStay Processes Over R1 Billion in Six Months, Eyes Series A
TurnStay, a South African fintech providing payment infrastructure for African travel businesses, has processed more than R1 billion in transactions in the first six months of 2026 - a milestone reached just three years after the company was founded. The platform serves hotels, safari lodges, tour operators and villa agencies across the continent, including clients such as Singita, Londolozi, Safari.com and The Capital, with active operations in South Africa, Mauritius, Kenya, Tanzania and Botswana. Having raised a $300,000 pre-seed round in 2024 and a $2 million seed round in 2025, the company is now preparing for a Series A raise to fund further continental expansion.
TurnStay's model addresses a longstanding cost disadvantage faced by African travel merchants, where traditional local processing of foreign bookings can cost as much as 8% per transaction. The platform charges from as little as 1.6%, achieved through a merchant-of-record structure combined with modern payment rails that include stablecoins for fast, low-cost cross-border transfers. CEO and co-founder Alon Stern noted that global platforms have long used similar infrastructure, but TurnStay has made it directly accessible to African operators regardless of size. The company is a licensed financial services provider in South Africa and is pursuing additional licensing in international markets as part of its broader expansion strategy.
Source: Tech Financials
