| Founded | 2021 |
|---|---|
| Closed | 2022 |
| Country | Zambia |
| Sector | Fintech |
| Collapse type | Fraud Explosion |
| Founder | Perseus Mlambo, Alessandra Miedema |
Union54
"Raised $12M from Tiger Global; lost it to fraudsters within months of launch."
Sudden collapse triggered by fraud exposure
Key Events Timeline
Union54, founded by Perseus Mlambo and Alessandra Miedema in Lusaka, raised $12M in 2022 from Tiger Global to issue virtual Visa cards for African fintechs.
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