Nigerian fintech, Leatherback raises N4bn pre-seed funding

A cross-border payments platform, Leatherback has announced its pre-seed funding round deal worth $10 million (about N4.1 billion) attracting funding from Zedcrest Capital, a leading pan-African principal investment firm.

In a statement on Tuesday, the financial technology (Fintech) firm said the funding will allow the growing company to focus on critical activities, including hiring strategic roles, elevation in its marketing and branding strategy and traction and visibility in the market.

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Leatherback, a digital payment platform offers a multiple currency solution that allows businesses and individuals to conduct global transactions quickly and efficiently through its digital payments infrastructure.

Commenting, the Co-Founder and CEO, Ibrahim Toyeeb said, “Some of the funding will be deployed to raise Leatherback’s profile in the Fintech arena as well as extend its capacity in the many countries it’s licensed in and where it is about to be approved. These include South Africa, Egypt, Uganda, India and the UAE.”

Also speaking, Zedcrest Capital’s Group Managing Director, Adedayo Amzat, said: “As principal investors, we love opportunities where we can bring our expertise to bear.”