Nigeria’s Zedcrest Group Acquires Cross-Border Payments Startup Leatherback

Nigerian financial services group Zedcrest Group has acquired UK-founded cross-border payments startup Leatherback for an undisclosed amount, strengthening its presence in Africa’s growing payments market.

Founded in 2021 by Ibrahim Toyeeb Ibitade, Leatherback provides cross-border payment infrastructure and multi-currency financial services for businesses and individuals. The company will continue operating as an independent subsidiary, retaining its brand and management team led by CEO Ochebhoya Ekpete.

The acquisition builds on Zedcrest’s investment in Leatherback’s USD 10 M pre-seed round in 2021 and follows its 2024 acquisition of RMB Nigeria Stockbrokers.

Zedcrest said the deal will support Leatherback’s expansion into new markets, regulatory licensing, banking partnerships, and enterprise payments strategy while advancing its integrated financial services ambitions.