Immigrants, international students, and the expatriate population in general all require international payments, or foreign exchange. Revolut and Wise are among the platforms that have taken advantage of this international audience. Now, UK-based cross-border payments platform, fintech startup Leatherback has raised what it describes as a $10 million pre-seed round led by Pan-African investment firm, Zcrest Capital.
Leatherback provides multi currency solutions for cross border transactions.
Co-founder and CEO Ibrahim Toyeb said in a statement that the funding will be deployed to “raise Leatherback’s profile in the fintech sector as well as expand its capacity in the many countries where it is licensed and approved. These include South Africa, Egypt, Uganda, India and the United Arab Emirates.
Prior to this round, the company says it was bootstrapped by the founders.
Addedeo Amzat, Group Managing Director, Zcrest Capital, said: “As prime investors, we love opportunities where we can harness our expertise. It has been beneficial to provide Leatherback with operational and strategic support to build the right compliance, technology and financial infrastructure that will allow it to become the operating system of choice for the global mobility of businesses and individuals.
UK-based Leatherback multi-currency accounts with the option to exchange currency in several countries including the United Kingdom, Canada, India, Nigeria, Egypt, Uganda, Tanzania, Angola, South Africa, the United Arab Emirates, Denmark, Ghana and Kota provides. D Ivor.
