A UK-based cross-border payments platform, Leatherback, has secured $10 million in pre-seed funding. The round was led by ZedCrest Capital, a pan-African investment firm, marking a significant milestone for the fintech startup. Leatherback is tailored for immigrants, international students, and others who require seamless international payment and foreign exchange solutions.
The platform allows users to perform cross-border transactions through multi-currency accounts, facilitating easy currency exchanges across numerous countries. Currently, Leatherback operates in nations such as the UK, Canada, India, Nigeria, Egypt, Uganda, South Africa, and the UAE, with plans to expand further.
Ibrahim Toyeeb, co-founder and CEO, expressed that the investment will enhance the company’s global presence and capabilities in regions where it is licensed or awaiting approval. These include markets like South Africa, Egypt, and India. Prior to this funding, Leatherback had been self-funded by its founders.
Adedayo Amzat, Group Managing Director of ZedCrest Capital, highlighted the potential of Leatherback, stating, “Our expertise aligns with opportunities like this. Supporting Leatherback to establish robust compliance, technology, and financial systems has been fulfilling. This groundwork positions it as a preferred solution for global mobility in business and personal finance.Leatherback’s multi-currency accounts provide an efficient option for exchanging money across borders, catering to a growing need for innovative financial solutions in an increasingly connected world.
