Zedcrest acquires Leatherback to strengthen global fintech expansion

Nigerian financial services group Zedcrest has acquired UK-founded cross-border payments startup Leatherback in a strategic move aimed at expanding its presence in the global fintech market, the company announced. The acquisition was completed for an undisclosed sum and marks one of the most significant fintech consolidation deals involving a Nigerian financial services firm this year. The transaction deepens a relationship that began in 2022 when Zedcrest Capital led Leatherback's $10 million pre-seed funding round. Founded to simplify international payments for businesses and individuals, Leatherback operates cross-border payment infrastructure that enables users to send, receive, and manage funds across multiple currencies. The company has expanded beyond retail remittances to focus on enterprise payment infrastructure, leveraging licences in the United Kingdom and Canada while supporting transactions in more than 180 currencies. The acquisition is expected to allow Zedcrest to integrate Leatherback's technology, regulatory licences and international payment network into its broader financial services ecosystem. For Zedcrest, the deal aligns with a broader expansion strategy that included the 2024 acquisition of RMB Nigeria Stockbrokers.