At the end of his University studies, Perseus Mlambo wanted to pursue a legal career but his entrepreneurial drive took the lead, taking him to the African fintech segment. With Union54, he intends to shorten settlement time and decentralize payment card issuance.  

Zambian tech entrepreneur Perseus Mlambo (photo) is the co-founder of Union54, a fintech startup decentralizing the issuance of virtual and physical payment cards. Thanks to its API, the startup allows firms to issue branded payment cards without third-party processors or banks. 

He launched Union54 in 2021, with Alessandra Martini, to help SMEs easily offer added-value services (loyalty, discount, or credit cards) to their clients. He wants to save them from the painstaking processes he went through to issue debit cards for Zazu, the startup he founded in 2015 to help clients better manage their income. 

Perseus is an LLB graduate from Nottingham Law School. He is also a former Ethics Office Support Staff at the United Nations High Commissioner for Refugees. He estimates that it is important to create an alternative debit card issuing network to reduce Africa’s dependence on foreign solutions. With the foreign solutions currently used, Africa can be affected by political decisions and sanctions, he believes.

In April 2022, his startup raised US$12 million in a seed extension round led by Tiger Global. Participating investors included Vibe VC, Earl Grey Capital, and Packy McCormick’s Not Boring Capital. With the proceeds, Union54 will expand its coverage. Currently, the startup claims more than 500,000 virtual cards issued and hours saved for its users.  

Melchior Koba