Klarna acquires assets of bankrupt BNPL firm Laybuy

Klarna, the AI-powered global payments network and shopping assistant, has acquired Laybuy’s assets in New Zealand, the birthplace of the payments provider, and plans to relaunch the service in the coming weeks.

„Laybuy, which ceased operations in June, is set to make a reenergized return in New Zealand under Klarna. With Klarna’s extensive expertise and global presence, New Zealand consumers and merchants will benefit from a revitalized platform with superior payment flexibility and user experience.” – according to the press release.

David Sykes, Chief Commercial Officer at Klarna, said: “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. We have some truly exciting plans and can’t wait to begin sharing them with consumers and merchants.”

As New Zealand’s own BNPL champion, Laybuy has served customers and merchants with its no-interest, flexible payment options since its launch in 2017. Over half a million consumers in New Zealand have opened a Laybuy account, enabling them to shop at Laybuy’s 10,000+ merchants. 

From today, Klarna will begin to connect with Laybuy’s customers, informing them about what’s coming next for the payments provider. 

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Klarna is at the forefront of driving seamless commerce tailored to consumer needs. With over 85 million global active users and 2.5 million transactions daily, Klarna’s sustainable, AI-powered payment and shopping solutions are transforming how people shop and pay, both online and in store. Klarna empowers consumers to shop with confidence and convenience, supported by over 550,000 global retailers, including prominent brands like Uber, Airbnb, H&M, Sephora, Macy’s, and Nike.