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Ibrahim Ibitade Shares Story of Founding Leatherback and Ambitious Goals for 2024

By Oluchukwu Ikemefuna

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Conducting international transactions has been a challenge in the African region. However, with innovation after innovation, the challenge facing cross-border transactions is dwindling with time. Leatherback, with the help of its CEO, Ibrahim Ibitade, has taken significant steps to identify and close the cross-border transaction gap. 

Ibrahim Ibitade Leatherback Founding Story

Ibrahim founded the startup in 2022. It was created to provide solutions for cross-border transfer issues. Issues arising from locations, exchange rates, finding trusted finance partners, and high transaction fees.

Ibrahim Ibitade Leatherback

The startup is large, resilient, and borderless. It also aims to provide everyone in the world with access to services that enable them to become truly global, experiencing the taste of real financial freedom.

Ibrahim, reporting to Technext, said, “Traditional banking systems often impose restrictions and complexities when it comes to cross-border transactions.

This makes it challenging for users to navigate global financial landscapes seamlessly. Our research revealed that existing fintech solutions either lacked robustness in currency options or were limited in their international payment capabilities.”

Ibrahim Ibitade Highlights Leatherback Impacts

The CEO noted that many fintech platforms did not offer vital features such as invoicing, analytics, and permissions management.

He stated that their operations were unlike his startup’s operations, which take these features into account. According to him, the features were necessary as it makes it easy to operate in diverse markets. 

Leatherback is a unique platform that has an extensive offering of up to 15 currencies from different countries. It also has a strong focus on providing a user-friendly platform that caters to both individual and business needs. 

Also Read: EFCC Drops Charges Against Leatherback, Nigerian Fintech

Ibrahim highlighted that the startup’s dedication to successive innovation and customer-centric strategy has permitted them to carve out a unique niche in the market and ultimately set them apart from competitors.

Among its many accomplishments is the significant strides it has taken in expanding its global spread and abilities. With this, the company has gained authorization to process remittances in Sri Lanka, Nepal, and India where it partnered with Yes Bank. 

It has also collaborated with MCB Bank, one of Pakistan’s largest commercial banks. Additionally, it partnered with People Trust Bank in Canada to give Canadians access to global financial services. 

The startup recently acquired authorization as an Electronic Money Institution in the United Kingdom. 

Leatherback To Enable Secure Cross-Border Transactions

The company has also revealed its API project, depicting it as a key initiative that strengthens companies to fulfill their international payment needs seamlessly. 

The CEO proudly stated, “This project represents the climax of our global connectivity plans. It will enable businesses to use our platform for effective and secure cross-border transactions. These milestones collectively indicate our unwavering commitment to innovation, growth, and delivering value to our customers on a global scale.”

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Abdullahi Kafayat
Abdullahi Kafayat

Abdullahi Kafayat is an enthusiastic writer interested in the tech world. She's a graduate of Obafemi Awolowo University and has a BSc in Chemistry. You can reach her at Kafayatabdullahi17@gmail.com.

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