Lagos: TECHz – News Desk
In a defining move for global financial integration, Nigerian financial services powerhouse Zedcrest Group has completed the full acquisition of Leatherback, the UK-founded cross-border payments technology company.
The transaction, closed for an undisclosed sum, marks a pivotal expansion of Zedcrest’s financial ecosystem as it aims to bridge international payment gaps for individuals and enterprises. The acquisition is the culmination of a multi-year partnership between the two entities. Zedcrest initially anchored Leatherback’s early growth by leading its $10 million pre-seed funding round, providing crucial capital and operational guidance to scale the platform. By transitioning from a primary investor to the parent company, Zedcrest solidifies its commitment to specialized financial technology infrastructure.
Leatherback has established itself as a robust platform designed to simplify global commerce, enabling users to securely send, receive, convert, and manage funds in over 180 currencies through a single digital experience.
For Zedcrest Group, absorbing Leatherback extends its strategic footprint well beyond traditional finance. Following the 2024 acquisition of RMB Nigeria Stockbrokers – now operating as Zedcrest Securities – the group is actively building a comprehensive suite of services that spans investment banking, wealth management, and enterprise-grade cross-border payments.
“This acquisition represents far more than an expansion of our portfolio. 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,” stated Adedayo Amzat, Group Managing Director of Zedcrest Group. Leatherback will continue to operate as an independent subsidiary, retaining its distinct brand identity and management structure. This approach ensures service continuity for existing clients while equipping the fintech with Zedcrest’s formidable capital strength, institutional governance, and long-term investment capacity.
Ochebhoya Ekpete, Chief Executive Officer of Leatherback, reinforced the value of this institutional backing, stating that the transaction positions the company to build on its foundation with greater scale, capability, and long-term vision, while its commitment to customers remains unchanged.
With the acquisition finalized, Leatherback is accelerating its international rollout. Building upon its London headquarters and a newly established West African hub in Nigeria, the company is preparing to launch a North American hub in Canada and an East African hub in Kenya in the coming quarters.
