At its peak, Laybuy served over 750,000 active customers across Australia, the UK, and New Zealand. The company raised A$80 million through an IPO on the Australian Stock Exchange in August 2020 at a A$358 million valuation, but saw its share price collapse from A$2 to A$0.03 by 2023, leading to delisting on March 24, 2023. The company ultimately could not sustain operations independently in a competitive BNPL market.
Cyborg Score Rationale
Laybuy operated in the rapidly growing BNPL market but faced severe financial distress, entered receivership (June 2025), and was ultimately acquired for asset value by Klarna rather than surviving as an independent entity. The company failed to achieve profitability and could not secure alternative financing.
Top Insights
Ceased independent operations (June 2025) after unsuccessful buyer search; assets acquired by Klarna for New Zealand market relaunch
Expanded internationally (UK, Australia, New Zealand) but could not achieve profitability across diverse markets simultaneously
Public market delisting (March 2023) followed share price collapse from A$2 to A$0.03, signaling investor loss of confidence
Operated in high-growth BNPL sector (forecast 42.6% CAGR through 2035) but lacked competitive scale or unit economics versus larger rivals like Klarna
Named Competitors
Klarna — Swedish BNPL unicorn offering installment payments and shopping services
Affirm — US-based BNPL provider with point-of-sale financing solutions
SplitIt — Credit card-based installment platform for BNPL at checkout