Ibrahim Ibitade, co-founder and CEO of cross-border payments startup Leatherback, has stepped down from his leadership role after five years.
In a statement, Leatherback expressed appreciation for Ibitade’s leadership, highlighting his contributions to the company’s global expansion and its reputation as a trusted provider of cross-border financial services. “We are thankful for his dedication and wish him success in his future endeavors,” the statement read. However, no reason was provided for his departure.
Toni Campbell, managing partner at Kinfolk Venture Capital, has been named as interim CEO. Campbell expressed enthusiasm for leading the company during this transitional period, stating, “This is a pivotal moment for Leatherback. We have an incredible opportunity to reshape global financial solutions, with a continued focus on empowering seamless cross-border transactions and delivering value to our customers.”
Additionally, 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 in place, Leatherback is well-positioned to maintain its role as a leading player in global financial services, making cross-border payments easier and more accessible for everyone,” the company added.
Leatherback has increasingly positioned itself as an alternative to international platforms like Mercury, offering cross-border financial solutions specifically tailored to African startups. Earlier this year, the company detailed its two-year effort to establish robust Know Your Customer (KYC) and Know Your Business (KYB) processes with its U.S. partner, Community Federal Savings Bank, to ensure secure and compliant transactions.
