By Alex Ababio
Fintech startup Leatherback, a U.K.-based cross-border payments platform, has in partnership with ZedCrest Capital, a pan-African investment firm raised whooping amount of $10 million pre-seed series
Leatherback provides a several currency solutions for its customers regarding cross-border transactions.
In a statement issued and signed by its Co-founder and CEO Ibrahim Toyeeb ,indicates that the funding would “be deployed to raise Leatherback’s business portfolio in the area of Fintech , in addition to expanding its strength in several countries where it has got license to operate in and where it is set to get approval from authorities from those countries.
According to the statement those countries include Uganda,India ,South Africa, Egypt, and the UAE.”
This sort of business opportunities have come in handy as Immigrants, international students, and the migrant population in general in almost every corner of the globe require international payments, or foreign exchange.
Reports suggest that companies such as Revolut and Wise are among those platforms to have utilized the opportunity in such international business.
The statement indicates that prior to this round, the Leatherback was said to have bootstrapped by the founders.
“As principal investors, we love opportunities where we can bring our expertise to bear,” Zedcrest Capital’s group managing director, Adedayo Amzat, said. “It has been rewarding to provide operational and strategic support to Leatherback in its quest to build the perfect compliance, technology, and finance infrastructure that will allow it to be the operating system of choice for the global mobility of businesses and individuals.”
U.K.-licensed company , Leatherback provides several accounts with an alternative to exchange currency across multiple countries, including the Canada, United Kingdom,
Denmark, India, Egypt, Ghana, Nigeria, Côte d’Ivoire, South Africa, Uganda, Tanzania, Angola, and the UAE.