International payments, or foreign exchange, are required by immigrants, international students, and the migrant community in general. Revolut and Wise are two examples of platforms that have benefited from this multinational audience. Leatherback, a cross border payments platform established in the United Kingdom, has now raised a $10 million pre-seed round headed by ZedCrest Capital, a pan-African investment group.
For cross-border transactions, Leatherback offers a multi-currency option.
The funds will be used to “increase Leatherback’s visibility in the Fintech field as well as expand its capacity in the various countries it is licensed in and soon to be approved,” according to co-founder and CEO Ibrahim Toyeeb. South Africa, Egypt, Uganda, India, and the United Arab Emirates are among them.
The company claims to have been bootstrapped by the founders prior to this financing.
“As primary investors, we love opportunities where we can bring our experience to bear,” Adedayo Amzat, Group Managing Director of Zedcrest Capital, stated. It’s been a pleasure to provide operational and strategic help to Leatherback in its mission to create the ideal compliance, technology, and finance infrastructure that will enable it to become the operating system of choice for enterprises and individuals that travel globally.”
Leatherback, based in the United Kingdom, provides multi-currency accounts with the ability to exchange currency in a variety of countries, including the United Kingdom, Canada, India, Nigeria, Egypt, Uganda, Tanzania, Angola, South Africa, the United Arab Emirates, Denmark, Ghana, and Côte d’Ivoire.
To read our blog on “NayaPay, a fintech company, raises $13 million as it expands digital payments in Pakistan”, click here.
