Leatherback Launches in the UK, Enabling Easier Remittance and Cross-Border Payments for Migrants and Businesses
Leatherback, a neo-banking platform for individuals and businesses, has launched its mobile app in the UK, making it easier for migrants and businesses to remit funds and conduct cross-border transactions in over 15 currencies across 21 different countries.
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, including GBP, USD, NGN, ZAR, CFA, EUR and more. By leveraging advanced financial services technology and strategic partnerships with banking networks, Leatherback enables instant fund transfers which makes it easier for recipients to access their funds when they need it.
More than 800 million people around the world receive money from friends and family working or living abroad to pay for food, utilities, education, medical treatment, and other needs. These funds represent a significant source of income and development, and 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 and other issues.
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 United Kingdom, Canada, Nigeria, and Ethiopia enabling the platform to effectively serve customers across a wide range of markets. Tens of thousands of individuals and businesses already use the platform to support their loved ones and maximise business opportunities every day.
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, including Pay by bank transfer, Pay with card, and Pay By Leatherback, where users can directly transfer money from their Leatherback currency account to their beneficiaries.
According to Toyeeb Ibrahim, CEO of Leatherback, “We understand the sacrifice that comes with living apart from loved ones and 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 and 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 to enable more opportunities for migrants and businesses across the world”.
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