By Oliver Smith on Thursday 14 January 2021
Laybuy counts the growth after an “exceptional” quarter.
Over the past 12 months Laybuy has seen the number of shoppers using its service rise more than 117 per cent to over 687,000, the buy-now-pay-later (BNPL) group announced today.
Laybuy’s pay later service was used to buy a record NZ$182m worth of goods during the quarter ending 31 December, a figure up 187 per cent year-on-year.
The lender’s share price leapt over 13 per cent after the results were announced, pushing Laybuy’s valuation to over NZ$250m.
“We delivered new records for the number of active customers and merchants, highest trading day, trading week and trading month driven by key initiatives (including the launch of ‘Tap to Pay’ for in-store purchases in partnership with Mastercard) and record Black Friday and holiday sales.”
Across Australia, New Zealand and the UK Laybuy now counts over 8,000 merchants, with the UK seeing particularly strong growth with both merchants and customers both up over 400 per cent.
The deal has seen Laybuy’s financing options being offered in Manchester United’s flagship store in Old Trafford.
At the end of September, the fintech also expanded its coverage to include major e-commerce platforms, which included the likes of Shopify, Wix and BigCommerce.