Laybuy, a BNPL provider which launched in 2017 and once boasted around 766,000 customers across the UK, Australia and New Zealand, put itself up for sale in April and was looking to delist from the New Zealand’s junior stock exchange Catalist.
However, a buyer failed to emerge at the time and the New Zealand based company was placed into receivership.
Klarna has now acquired Laybuy’s assets and plans to relaunch the service in the coming weeks.
“Laybuy established itself as a cherished brand in New Zealand and we’re excited to build on those foundations to take Laybuy to new heights under the Klarna umbrella,” commented David Sykes, Chief Commercial Officer at Klarna.
“We have some truly exciting plans and can’t wait to begin sharing them with consumers and merchants.”
Klarna spokesperson John Craske clarified that the relaunch will be as Laybuy. Craske declined to provide details on the value of the deal, and the outcome for local staff.
Deloitte partners Rob Campbell and David Webb who were appointed in June as receivers for Laybuy, said they are pleased that an agreement has been reached for Klarna to purchase the New Zealand assets of the BNPL lender group.
“Following a sale process that saw a number of parties express interest in acquiring the assets and/or business, an unconditional sale agreement has now been executed.
The transaction with Klarna ensures that in the coming months,” Campbell and Webb said in a media release.
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