Leatherback has launched in the UK, making it easier for migrants and businesses to remit funds and conduct cross-border transactions.
With SendR, Leatherback’s remittance product, students, medical migrants, remote workers, freelancers, parents, business owners, and others can send funds that beneficiaries can instantly receive in the currency of their choice.
This includes GBP, USD, NGN, ZAR, CFA, EUR. By leveraging advanced financial services technology and strategic partnerships with banking networks, Leatherback says that it enables instant fund transfers, making it easier for recipients to access their funds when they need it.
Remittances: serving 800 million people around the world
More than 800 million people around the world receive money from friends and family working or living abroad. These funds represent a significant source of income and development. Indeed, they were the biggest source of capital inflow for low- and middle-income countries (LMICs) last year, exceeding foreign direct investment and aid. However, inefficient money transfer processes and platforms mean these funds can be unnecessarily held up, leading to missed opportunities.
Inspired by the leatherback turtle which is the world’s largest sea turtle and one of the most migratory sea animals, Leatherback enables users to seamlessly move money around the world to support their business and lifestyle needs. Headquartered in London, Leatherback is regulated in the UK, Canada, Nigeria, and Ethiopia enabling the platform to effectively serve customers across a wide range of markets.
Transparent low fees, real-time FX rates, fast onboarding
With Leatherback, users can take advantage of a seamless, digital identity verification process, upfront low fees, real time FX rates, and a secure, fast, and easy-to-use onboarding process to send and receive money. Users also have a range of payment options. These include Pay by bank transfer, Pay with card, and Pay By Leatherback. This service enables users to directly transfer money from their Leatherback currency account to their beneficiaries.
Toyeeb Ibrahim, CEO of Leatherback, said: “We understand the sacrifice that comes with living apart from loved ones. We want to remove the barriers that get in the way of contributing to their wellbeing while you are away. We want to make it as easy as possible to send money to loved ones wherever they are. Our products have been designed with this mission in mind. We have launched in the UK and we have ambitions to grow into other markets.”
