The holiday season is upon us and if you’re worried that you haven’t saved enough during the year for travelling, FomoTravel might just be the solution you’ve been searching for!
FomoTravel is South Africa’s new unique lay-by social savings platform that allows users to save for holidays. It gives consumers an easy, and cost effective way to travel to places of their dreams.
“A vacation is a luxury, not a necessity. We believe in not borrowing to travel. Interest on loans can be very high and could put you into further financial difficulty. The idea is to get you to save smartly and spend wisely using FomoTravel,” reads the website.
The startup has partnered with award-winning travel agencies to put together all-inclusive package deals for travellers. Users simply need to pay a small deposit to activate booking and through affordable recurring monthly payments, they are able to pay towards their future travel goals.
“We have created an alternative payment option for people who want to travel without the use of credit or immediate payment. Our aim is to help and guide you to a debt free, conscience free holiday. We are making it easier than ever to experience the personal satisfaction and financial rewards that come from saving for specific vacations and leisure getaways.”
The company charges no interest and has thus far seen over 4000 keen travellers sign up to the platform. All funds are kept safely in a Standard Bank Trust Account, finances are secured until final payment is made.
“We are currently only servicing the South African market and plan on doing so for the immediate future. This is a company that has been built in South Africa for South Africans and that means we are focused on making travel affordable and accessible for all South Africans before we look to expand to other markets,” explains Andrew Katzwinkel, CEO and founder of FomoTravel, reports Disrupt Africa.