DCG and DFS Lab Invest in Turnstay to Propel Regional Expansion of South African Travel Fintech
Venture capital firms DFS Lab and Digital Currency Group (DCG) recently invested $300,000 in Turnstay, a South African travel-focused fintech startup.
Founded by Alon Stern and James Hedley in 2021, Turnstay aims to simplify payment procedures for international travelers and reduce costs for African hospitality businesses. The investment will support Turnstay’s expansion across Africa.
Turnstay’s platform offers localized payment experiences, charging clients in their home currency and using familiar payment methods. This approach has cut costs for some clients by 70% and halved unnecessary failed transactions, significantly boosting sales conversion rates. Stephen Deng of DFS Lab praised the Turnstay team for their innovative solution, which promises substantial cost savings for the African travel and tourism industry.
Clever Robot News Desk 19th July 2024
