Insights

This BNPL just saw stronger UK growth than Afterpay (ASX:APT)

In just 12 months, the ASX-listed Kiwi upstart has tripled its active customers in Britain, to lay down the gauntlet to Afterpay.
The post This BNPL just saw stronger UK growth than Afterpay (ASX:APT) appeared first on The Motley Fool Australia. –

ASX-listed buy now, pay later (BNPL) provider Laybuy Holdings Ltd (ASX: LBY) has tripled its UK active customer count and grown its merchants base by 433%.

The New Zealand fintech revealed this week in its full-year results that in the 12 months to 31 March, active customers in the UK went from 154,000 to 463,000.

Managing director Gary Rohloff said the business had the pedal to the floor in Britain.

“The UK has an addressable retail market of £394 billion, more than twice the size of the Australian market. It is also a market where BNPL is still in its infancy but is expected to grow quickly,” he said.

“Over the past year, we have accelerated our marketing activities, entered new strategic partnerships, invested in new technology and grown our staff numbers in the UK to take advantage of the opportunity provided.”

The number of participating merchants in the UK went from 335 to 1,785 in the past year. The gross merchandise value, which is the amount of sales that went through the platform, rocketed up 504%.

Rohloff said Laybuy was now “widely recognised” as one of the top 3 BNPL brands in Britain.

The Laybuy share price was up 2.73% on Friday morning, to trade at 56 cents. The company listed on the ASX back in September after an initial public offer price of $1.41.

Laybuy vs Afterpay

Laybuy’s UK growth actually outstrips that of Australian sector leader Afterpay Ltd (ASX: APT).

Afterpay, for historical reasons, is known as Clearpay in Britain.

In the latest business update last month, Afterpay had grown its UK customer base 134%, from 800,000 to 1.8 million for the year ending 31 March.

So while Afterpay’s market share clearly still dwarfs Laybuy’s, the yearly growth falls short of the smaller rival.

Laybuy is hoping its virtual credit card and brand partnerships will further boost its European expansion in the coming 12 months.

“Laybuy is also finalising strategic partnerships with Rakuten Group Inc, Awin and Sovrn, which will see Laybuy customers having access to more than 5,000 merchants in the UK — including some of the country’s largest and most iconic brands such as ASOS, Nike, Marks and Spencer Group, easyJet, Amazon.com, Boots and eBay from Q2 in FY22,” said Rohloff.

“These partnerships will allow our customers to use Laybuy’s Tap to Pay digital card to shop and BNPL directly through the Laybuy app with these merchants, without the need for further merchant integration or direct relationship being required.”

Learn where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

5 things to watch on the ASX 200 on Friday

Why did ASX tech shares like Afterpay (ASX:APT) have such a good day?
ASX 200 up 0.2%: CBA share price cracks $100, ALS result impresses

Where next for Afterpay (ASX:APT) and Zip (ASX:Z1P) shares?
Where to for the A2 Milk and Afterpay share price, and US economic growth? Motley Fool CIO Scott Phillips on Nine’s Late News

The post This BNPL just saw stronger UK growth than Afterpay (ASX:APT) appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!