Editor’s note: African-Startups is a sister publication of EU-Startups, bringing trusted coverage of startups, venture capital, and innovation across Africa.
Zedcrest Group, the Nigerian financial services group with operations spanning investment banking, asset management, and FinTech, has acquired Leatherback, the UK-founded cross-border payments startup, for an undisclosed amount.
Founded in 2019, Leatherback helps individuals and businesses to send, receive, convert, and manage money seamlessly across multiple currencies through a secure digital platform.
Leatherback will continue to operate as an independent subsidiary within the Zedcrest Group, retaining its brand, current management team, and existing customer accounts.
For existing customers, Leatherback has confirmed that the acquisition will not affect day-to-day operations.
“Your account remains your account. Your balances are safe and untouched. Sending, receiving, converting and managing your money across currencies all continue exactly as they do now; same app, same login, same details. There is nothing you need to do,” clarifies Leatherback in a statement.
In the coming quarters, Leatherback says users can expect broader market reach and greater platform reliability as the company leverages Zedcrest’s backing to bring global payments to more markets.
Ochebhoya Ekpete, Chief Executive Officer, Leatherback, said: “This marks an exciting new chapter for Leatherback. We have built a business focused on solving real challenges in global payments, and this transaction positions us to build on that foundation with even greater scale, capability, and long-term vision. “For our customers and partners, our commitment remains unchanged. They can continue to expect the same reliable service and seamless experience they know us for, while we continue investing in innovation, strengthening our capabilities, and expanding the opportunities we create for them across global markets.”
Founded in 2013, Zedcrest Group is a financial services company that offers solutions in asset management, investment banking, securities, financing, and financial technology.
The company focuses on providing financial services that enhance capital movement and support businesses, individuals, institutions, and governments in Africa and globally.
This deal follows Zedcrest’s 2024 acquisition of RMB Nigeria Stockbrokers as the group builds an integrated financial services business spanning investment banking, asset management, securities, financing, and financial technology.
Recently, the company opened its West African hub in Nigeria and is planning to launch its North American hub in Canada and its East African hub in Kenya in the upcoming quarters.
Adedayo Amzat, Group Managing Director, Zedcrest Group, said: “This acquisition represents far more than an expansion of our portfolio. It reflects our conviction that the future of financial services will be shaped by technology, global connectivity, and institutional trust. Leatherback has built an impressive platform that addresses real challenges in cross-border payments, and we see significant opportunities to accelerate that journey through the strength of the Zedcrest ecosystem.”
