Zambian card-issuing fintech Union54 has raised $12 million in a seed extension round led by Tiger Global, with participation from Vibe VC, Earl Grey Capital and Not Boring Capital.
- Union54's API allows African software companies to issue and manage their debit cards without requiring a bank or third-party processor.
- The fintech startup says it has issued over half a million virtual debit cards to its customers.
- Launched in October 2021, the Y Combinator-backed startup raised $3 million in a seed round last year, which was also led by Tiger Global. The latest funding brings its total raise to date to $15 million.