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§ Private Profile · London, United Kingdom
Leatherback is a technology company.
Leatherback operates a global payment platform, streamlining cross-border financial transactions. It offers multi-currency accounts for holding, sending, and receiving funds in various denominations like pounds, dollars, and naira. This digital approach simplifies international money transfers, local payments, and currency exchange, enhancing global financial connectivity.
Co-founded by Toyeeb Ibrahim, CEO, Leatherback launched in 2019. Its inception addressed inefficiencies in traditional international financial services. Ibrahim and his team recognized a market need for a unified digital solution, developing a platform to simplify global money movement and offer a seamless financial experience.
Leatherback caters to individuals and businesses needing flexible international financial management, enabling transactions without geographical limits. It envisions itself as a global currency passport, empowering users to easily navigate diverse economies. The company aims to foster secure, borderless transactions and comprehensive worldwide financial connectivity.
Leatherback has raised $10.0M across 1 funding round.
Leatherback has raised $10.0M in total across 1 funding round.
Leatherback has raised $10.0M in total across 1 funding round.
Leatherback's investors include Zedcrest Capital.
Leatherback has raised $10.0M across 1 funding round. Most recently, it raised $10.0M Seed in April 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Apr 1, 2022 | $10M Seed | Zedcrest Capital | — | Announced |
Leatherback is a fintech company that provides cross-border payment solutions, including multicurrency accounts, money transfers, mass payouts, invoicing, expenses, and payroll tools, primarily serving individuals and businesses in international trade.[1][2] Headquartered in London, UK, it operates in multiple countries like Nigeria, India, Ghana, Egypt, Canada, Sri Lanka, Pakistan, Nepal, and Ethiopia, trading over 15 currencies with regulation in five countries and a global team of over 70 employees.[1][2] The company simplifies global finance by offering fast currency exchange through local liquidity control, enabling better pricing on unique corridors, and has processed over $300 million monthly while signing up more than 60,000 users.[1][2]
Leatherback's growth includes a $10 million pre-seed funding round in 2022 from Zedcrest Capital, reflecting strong momentum in frontier and migration-heavy markets.[1][3]
Leatherback was founded in 2019 (with company registration in 2019 and FCA authorization in 2020), emerging as a technology-driven response to barriers in global payments and trade, particularly in emerging markets.[1][2][4] Key early leadership included co-founder Ibitade, who guided expansion for five years, securing $10 million in pre-seed funding, user growth to over 60,000, and operations across eight countries before his departure.[1] From its London base at 1 Northumberland Avenue, the company evolved from a focus on multicurrency accounts and FX to a broader platform for global banking, treasury, and commerce solutions, becoming an FCA-regulated electronic money institution (reference 901074).[2][4]
Leatherback rides the wave of digital remittances and cross-border fintech growth, fueled by rising global trade, migration from frontier markets, and demand for affordable FX amid volatile currencies.[1][2] Its timing aligns with post-pandemic e-commerce surges and regulatory shifts enabling EMIs like itself to scale without full banking licenses, positioning it against rivals like LemFi and Kuva in multi-currency wallets.[1] By focusing on local liquidity in high-friction corridors, it lowers barriers for SMEs and individuals in emerging economies, influencing the ecosystem through faster payouts that boost commerce and mobility in regions like Africa and South Asia.[2]
Leatherback is poised to expand its global footprint, potentially deepening operations in more frontier markets and enhancing treasury tools amid rising demand for embedded finance.[2] Trends like AI-driven FX optimization and regulatory harmonization across regions will shape its path, while competition from scaled players could pressure margins—yet its local liquidity edge and $10M war chest provide resilience.[1][3] As cross-border volumes grow, Leatherback's role as a trusted enabler of global opportunities positions it to capture more of the $300M+ monthly processing it already handles, solidifying its spot in fintech's remittance revolution.[1]