Ibrahim Ibitade, the former CEO of Leatherback, has made a surprising return to the startup scene with the launch of Prune Payments, a cross-border payments company that directly competes with his former company.

This move comes just months after Ibitade stepped down from Leatherback, citing a desire to focus on his personal life and start a family.

In a 2024 interview, Ibitade expressed his desire to prioritize his family goals, stating, “I want to start a family. I should be married now with kids, but I’m not. My dream and goals of being a family man do not align with the requirements of the job right now.”

However, his swift return to the startup scene with a competing company raises questions about the circumstances surrounding his departure from Leatherback.

Prune Payments, which appears to have started operations in December 2024, offers similar features to Leatherback, including multi-currency wallets and remittance services.

While signups and registrations are currently inactive, the company’s website suggests that it is gearing up to compete with Leatherback in the cross-border payments space.

Ibitade’s departure from Leatherback was announced in October 2024, with the company citing his leadership in expanding its global presence and establishing it as a trusted partner in cross-border financial services.

However, Ibitade has since revealed that he had disagreements with Zedcrest Capital, a major investor in Leatherback, which led to his decision to leave the company.

During his five-year tenure at Leatherback, Ibitade played a key role in raising $10 million in pre-seed funding from Zedcrest Capital in 2022.

Under his leadership, the company signed up over 60,000 users, processed over $300 million in monthly transactions, and expanded its operations to eight countries, including Canada, Nigeria, the United Kingdom, Sri Lanka, Pakistan, Nepal, Ethiopia, and India.