Global Courant
An African start-up Union54 is supported by Tiger Global Management in entering the racing development super app.
While the investors look to the continent’s ever-evolving technology-conscious market.
According to Union54 founder and CEO Perseus Mlambo, the new ChitChat app offers secure messaging coupled with dollar-based virtual cards that it developed in partnership with Mastercard to enable international transactions and is expected to debut in September.
The company plans to offer payment, gaming, dating and food delivery services on their platform. In an interview, Mlambo said users “can send money to each other. They can buy airtime. They can buy bus tickets.”
Union54 was founded in 2021 as a fintech company. The company issued more than three million virtual cards before suspending service last year and they were hit with chargeback fraud. The fraud left Union54 with approximately $500,000 in weekly bills.
Gabriel Swanepoel, country manager of Mastercard South Africa said in an interview: “We’ve gone through quite an extensive program to make sure the issues we encountered have been addressed.”
Tiger Global-backed startup Union54 joins Africa’s Super App
World News,Next Big Thing in Public Knowledg
#Tiger #Globalbacked #startup #Union54 #joins #Africas #Super #App
