Leatherback, a UK-based cross-border payments platform, has raised $10m from a pre-seed funding round.
The company attracted funding from several investors including pan-African principal investment firm Zedcrest Capital.
According to FinTech Finance, Leatherback offers a multiple currency solution that enables companies and individuals to conduct global transactions rapidly and efficiently through its digital payments infrastructure while also being committed to promoting business expansion and remove barriers to continental business growth.
The funding will enable Leatherback to focus on critical activities such as hiring strategic roles, elevation in its marketing and branding strategy and traction and visibility in the market.
Leatherback 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.
“Building local capacity is not easy, yet it is core to how we operate at Leatherback. The capital injection will further strengthen the value we provide by ensuring a solid presence and infrastructure so we can offer solutions directly to customers with better pricing,” he says.
Toyeeb’s main ambition is for the company’s digital payments platform to become a single one-point solution for companies with access to tools to improve their global presence.
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