Laybuy, an Auckland, New Zealand- and Chicago, IL-based global leader in ‘Buy Now, Pay Later’ (BNPL) technology, secured an £80m debt facility.
Victory Park Capital provided the financing.
The company intends to use the funds for continued international expansion and growth in the UK.
Led by Gary Rohloff, co-founder and CEO, Laybuy enables shoppers to pay for in-store and online purchases over six weekly payments, interest-free.
Founded in New Zealand in 2017, the company officially launched in the UK market with streetwear brand retailer Foot Asylum in 2019. For the 12-month period ending June 30, 2020, Laybuy had more than 5,600 active merchants and over 470,000 active customers on its platform.