The CEO and co-founder of cross-border payments startup Leatherback, Ibrahim Ibitade, has stepped down after five years at the helm, the company told TechCabal.
“Under Ibitade’s guidance, Leatherback expanded its global presence and established itself as a trusted partner in cross-border financial services,” the company said in a statement. “The company is grateful for his dedication and wishes him the best in his future endeavours.”
Leatherback did not share a reason for Ibitade’s exit.
Toni Campbell, a managing partner at Kinfolk Venture Capital, has been named interim CEO. “I’m excited to lead Leatherback through this pivotal moment,” said Campbell. “We have the opportunity to redefine global financial solutions, and our mission remains clear: to empower seamless movement of money across borders, while strengthening trust and delivering exceptional value to our customers.”
Adedayo Amzat, Group Managing Director and CEO of Zedcrest Group, Leatherback’s lead investor, will join the company as a non-executive director.
“With this experienced leadership team, Leatherback is well-positioned to continue its journey as a top player in global financial services, making cross-border payments borderless and more accessible for all,” the statement added.
Along with a crop of homegrown cross-border apps, Leatherback had begun pitching itself to African startups as an alternative to Mercury.
“With Community Federal Savings Bank, one of our local partner banks in America, we spent two years demonstrating that we have the standard KYC and KYB processes and transaction monitoring process, giving them enough comfort,” the company told TechCabal in July.
