# Union54 Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/union54-private

- Industry: Financial Services
- Headquarters: Zambia, South Africa
- Website: www.union54.com
- Total disclosed funding: $15M
- Latest round: Seed (Apr 18, 2022)
- Investors on record: 8

## About

Based in Lusaka, Zambia, and founded in 2020 by COO Alessandra Martini and Co-founders Jon Wade, Union54 Private Limited aka Union54 operates as a fintech company offering cards using API. In April 2022, Union54 Private Limited raised USD 12 million in Seed funding led by Tiger Global Management, with participation from Vibe Capital, Not Boring Capital, and Earl Grey Capital. 

The company provides API to build cards that can be used for digital banking, buy now, and pay later options. Union54 allows companies to check their expense of employees and provide ledger information for customers. The firm offers BIN sponsorship, transaction processing, and settlement via one API. 

The company charges USD 300 as settlement fees and USD 40 for virtual cards. The firm also charges USD 35 as processing fees and USD 7 for physical cards, additionally USD 20 for chargeback handling. Union54 charges USD 1,500 monthly from its users.

## Funding rounds

- Seed, Apr 18, 2022, $12M — Tiger Global Management, Vibe Capital, Not Boring Capital, Earl Grey Capital
- Seed, Oct 27, 2021, $3M — Tiger Global Management, Runa Capital, ACE & Company, Kuda Technologies Ltd, Todd and Rahul Angel Fund, Vibe Capital

## Investors

- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Seed
- Runa Capital (https://capitalatlas.ai/funds/runa-capital) — Seed
- ACE & Company (https://capitalatlas.ai/funds/ace-company) — Seed
- Kuda Technologies Ltd — Seed
- Todd and Rahul Angel Fund — Seed
- Vibe Capital (https://capitalatlas.ai/funds/vibe-capital) — Seed
- Not Boring Capital (https://capitalatlas.ai/funds/not-boring-capital) — Seed
- Earl Grey Capital (https://capitalatlas.ai/funds/earl-grey-capital) — Seed