Nigerian financial services group Zedcrest has completed the acquisition of UK-founded fintech company Leatherback, a move aimed at expanding its global digital payments footprint and accelerating its international financial services strategy.
Although the financial details of the transaction were not disclosed, the acquisition marks a significant milestone in the relationship between the two companies, which began in 2021 when Zedcrest made its initial investment in Leatherback.
The deal gives Zedcrest full ownership of the fintech company, reinforcing its ambition to build an integrated financial ecosystem spanning investment banking, asset management, securities trading, financing and financial technology.
Leatherback offers a digital platform that enables individuals and businesses to send, receive, exchange and manage money across multiple currencies. The platform primarily serves businesses engaged in international trade, globally mobile professionals and customers seeking seamless cross-border payment solutions.
Despite the ownership change, Leatherback will continue operating under its current management team. Zedcrest said it will provide additional capital, institutional support and stronger corporate governance while preserving the company’s existing services and customer relationships.
Headquartered in London, Leatherback has recently established a regional hub in Nigeria as part of its West African expansion strategy. The company also plans to launch operations in Canada and Kenya, further extending its global reach.
The acquisition is expected to combine Leatherback’s payment technology with Zedcrest’s financial expertise and investment capacity, enabling faster product innovation, enhanced platform reliability and expansion into additional international markets.
Zedcrest Group Managing Director Adedayo Amzat described the acquisition as part of the company’s long-term vision for the future of financial services.
According to him, technology, global connectivity and customer trust will remain the key drivers of financial innovation, making Leatherback an important addition to the group’s expanding portfolio.
Leatherback’s management also welcomed the transaction, saying the partnership would provide the resources needed to scale its international payments platform while maintaining secure, reliable and convenient services for customers worldwide.
The acquisition comes at a time when demand for efficient cross-border payment solutions continues to rise, driven by increasing global trade, remote work, digital commerce and the African diaspora.
For Zedcrest, integrating Leatherback into its operations strengthens its position in the fast-growing fintech sector and enhances its ability to compete in the international digital payments market.
Industry observers say the transaction reflects a broader trend of African financial institutions investing in technology platforms to improve global payment infrastructure and expand their presence beyond the continent.
With Leatherback now fully under its ownership, Zedcrest is expected to accelerate the development of innovative payment products while pursuing expansion across Africa and key international markets.
