Zedcrest Group, a prominent African financial services firm, has announced its complete acquisition of the UK-based financial technology company, Leatherback. While the financial terms of the deal were not disclosed, the move marks a significant step in Zedcrest's strategy to expand its global footprint. This acquisition solidifies a long-standing partnership, following Zedcrest's leadership of a $10 million pre-seed investment in the fintech in 2022.
A Strategic Partnership Solidified
The acquisition cements a multi-year partnership between the two entities, formalizing a relationship that began with significant financial backing from Zedcrest. This strategic integration is designed to combine Leatherback's agile product innovation with Zedcrest's robust institutional expertise and capital strength. The synergy aims to accelerate the next phase of Leatherback's growth and expand access to seamless global financial services for its clients.
Since its launch in 2019, Leatherback has developed a trusted platform for simplifying international payments for both individuals and businesses. Its technology enables customers to send, receive, and manage funds across multiple currencies through a unified digital interface. The company has successfully built a strong reputation for reliability and innovation in the competitive cross-border commerce space.
Vision for Global Expansion
Adedayo Amzat, Group Managing Director of Zedcrest Group, stated that the acquisition reflects a core conviction about the future of finance. He emphasized that technology, global connectivity, and institutional trust will be the primary forces shaping the industry going forward. This move is seen as a pivotal moment in realizing Zedcrest's ambition to build a comprehensive and globally connected financial services ecosystem.
With the backing of Zedcrest, Leatherback is set to embark on an ambitious global expansion plan. The company recently established its West African hub in Nigeria and has firm plans to open new operational centers in the coming quarters. These include a North American hub in Canada and an East African hub in Kenya to better serve its growing international clientele.
Leadership and Operational Continuity
To ensure a smooth transition and maintain momentum, Leatherback's existing leadership team will remain in place to guide the company. This approach provides critical continuity for customers, partners, and employees who are familiar with the current operational structure. The leadership will now be reinforced by the enhanced governance and long-term strategic support provided by the Zedcrest Group.
Leatherback's CEO, Ochebhoya Ekpete, described the transaction as an exciting new chapter that positions the company for greater scale and capability. He reaffirmed that the commitment to customers remains the top priority, promising the same reliable service with stronger institutional backing. The company will continue to invest in innovation to expand the opportunities it creates for clients in global markets.
Ultimately, this acquisition represents a significant milestone for both Zedcrest Group and Leatherback, creating a powerful synergy in the global fintech landscape. It provides Leatherback with a stronger institutional foundation to pursue its long-term ambitions for growth and innovation. For Zedcrest, the deal is a strategic advancement of its mission to build a globally relevant financial services powerhouse.