Union54

Union54's core business is to provide the infrastructure for other software companies across Africa to create and manage their own card programs. The platform handles services like BIN sponsorship, transaction processing, and settlement, all accessible through its API. This allows clients to design and issue multi-currency debit cards that can be customized for specific uses, such as corporate expense cards or for customers of digital banks and buy-now-pay-later services. The business model is primarily pay-as-you-go, charging fees for API calls, card issuance, and transactions. The company's name is a nod to the 54 countries in Africa, reflecting its continent-wide ambition.

The company was the first Zambian startup to be accepted into the prestigious Y Combinator accelerator in the summer of 2021. It has attracted significant investor interest, raising a $3 million seed round in October 2021 and a $12 million seed extension in April 2022, with both rounds led by Tiger Global. In mid-2022, Union54 faced a major challenge with a surge in chargeback fraud, which led to a temporary suspension of its services to overhaul its systems. Following this, the company pivoted to develop ChitChat, an integrated messaging and payments platform that combines secure chat with USD virtual Mastercard debit cards and cross-border payment capabilities. This new direction aims to tackle the high cost of remittances in Africa while building a more robust and secure financial ecosystem.