Union54, the first Zambian startup backed by Y Combinator, got another major venture capital firm on its term sheet, Tiger Global.
The company confirmed to TechCrunch that the VC juggernaut led its just-completed $3 million seed round, coming only two months after graduating from Y Combinator’s summer batch.
The Zambian fintech also received checks from angel investors such as Babs Ogundeyi, the CEO of Nigerian neobank Kuda; Risana Zitha, managing director of Renaissance Capital; and Gbenga Ajayi, former director of SMB Growth at Wise.
Union54 is an API that allows African software companies to issue and manage their debit cards without needing a bank or third-party processor.
Co-founders and couple Perseus Mlambo and Alessandra Martini started Union54 this year as a spinoff from their previous company, Zazu, a challenger bank they launched six years ago.
