Perseus Mlambo

Last updated
Perseus Mlambo
Born1988 (1988)
Zimbabwe
NationalityZambian
Alma mater University of Leeds, University of Nottingham
OccupationBusiness executive
Known forFintech
Notable workFounder at Zazu, Union54, and ChitChat

Perseus Mlambo (born 1988) is a Zimbabwean-born fintech entrepreneur based in Zambia. He is the founder of Zazu, a neobank focused on financial literacy founded in 2015, and co-founder of Union54, a card-issuing API for African fintechs founded in 2021. In 2023, he co-founded ChitChat, a messaging app with built-in payments and virtual cards. Mlambo was named to the Forbes Africa 30 Under 30 list in 2018. [1]

Contents

Early Life and Education

Mlambo was born in Zimbabwe. He pursued his higher education in the United Kingdom, studying Law and Psychology at the University of Nottingham and started a 2-Year master’s degree in social work from Leeds Beckett University, dropping out after Year 1. [2]

Career

In his early career Mlambo worked on a DfID project in El Salvador addressing environmental issues affecting farmers’ livelihoods and with the UN Refugee Agency (UNHCR) in Geneva. [3] At the end of his time at UNHCR, he returned to Africa.

In 2015, he co-founded Zazu, initially an agritech platform in Zambia that later pivoted into a neobank focused on digital financial services and financial literacy. [4] In 2021, Mlambo's team launched Union54, a card-issuing API platform that allowed African fintech companies to issue debit cards without banks. Mlambo received praise from Zambian President Hakainde Hichilema saying We are proud to see more young people dreaming big and taking charge. [5] As reported, Union54 became the first Zambian startup accepted into Y Combinator and raised $15 million from investors led by Tiger Global. [6] In July 2022, Union54 temporarily suspended card operations following a massive $1.2 billion attempted chargeback fraud. [7]

In 2023, Union54 introduced ChitChat, a messaging and payments app. Often referred to as “WeChat for Africa,” ChitChat integrates chat, payments, and digital commerce in one platform. [8] In 2024, Union54 partnered with Paymentology, a London-based issuer-processor to expand ChitChat’s reach across Africa. [9]

Mlambo also co-founded the Zambia Technology Sector Working Group with Mwiya Musokotwane, a group aimed at promoting Zambia as a hub for African tech startups, advocating for reforms in immigration, tax, and crypto policy. [10] In 2019, the group hosted Ethereum co-founder Vitalik Buterin in Zambia. [11]

Attempted chargeback fraud

In July 2022, Union54 faced a coordinated chargeback fraud scheme involving over $1.2 billion in attempted fraudulent transactions. The fraud exploited vulnerabilities in the Mastercard dispute process, allowing bad actors to initiate chargebacks without having made legitimate purchases. The company temporarily suspended its card operations following an incident. [7]

Mlambo addressed the crisis publicly, he advocated for regulatory clarity and better collaboration between African startups and global payment networks. Union54 underwent months of internal audits and system redesigns before returning with a renewed focus on embedded financial tools. [12]

Recognition

References

  1. Modise, Ephraim (2023-08-21). "Understanding the intricacies of building in pre-emerging markets". TechCabal. Retrieved 2025-07-31.
  2. "African startup insights with Perseus Mlambo Founder and CEO @Zazu_Africa - Irish Tech News". 2016-09-14. Retrieved 2025-07-28.
  3. "Meet Zambian entrepreneur breaking barriers with Africa's first card-issuing platform". Daily News on African Billionaires and UHNWIs. 2023-01-02. Retrieved 2025-07-28.
  4. Kapesa, Royd. "Zazu and the Man Behind It Simplifying Money". nkwazimagazine.com. Retrieved 2025-07-28.
  5. Muzavazi (2022-04-19). "Zambia-based Zimbabwean plots homegrown African solution alternative to Mastercard or Visa". Zw News Zimbabwe. Retrieved 2025-07-28.
  6. Kene-Okafor, Tage (2021-08-06). "The first Zambian startup to get into YC is developing Africa's first card-issuing API". TechCrunch. Retrieved 2025-08-01.
  7. 1 2 Kene-Okafor, Tage (2022-07-18). "African fintechs halt virtual dollar cards after fraud". TechCrunch. Retrieved 2025-08-01.
  8. Modise, Ephraim (2023-07-05). "EXCLUSIVE: Union54 co-founder Perseus Mlambo explains 'ChitChat'". TechCabal. Retrieved 2025-07-28.
  9. Aimuengheuwa, Joan (2024-09-04). "ChitChat Introduces Virtual Mastercard Debit Card Powered by Paymentology". Tech | Business | Economy. Retrieved 2025-07-28.
  10. Idris, Abubakar (2022-01-13). "Tech leaders are pushing to transform Zambia into Africa's low-tax startup hub". Rest of World. Retrieved 2025-08-01.
  11. "Ethereum Founder Energised by Zambian FinTech Take-Off". Zambia Is Back. Retrieved 2025-08-01.
  12. Kene-Okafor, Tage (2023-03-29). "After chargeback fraud debacle, Union54 CEO says fintech in Africa 'isn't child's play'". TechCrunch. Retrieved 2025-08-01.
  13. "Under 30 Technology". www.forbesafrica.com. 2018-06-04. Retrieved 2025-07-30.
  14. CHOISEUL_TOP100_2024.pdf