After a false start, Swedish BNPL giant Klarna buys Laybuy which will be resurrected

Failed buy now, pay later (BNPL) company Laybuy which entered receivership in June this year, has been acquired by Sweden's Klarna. 

Klarna brands itself as "the AI powered global payments network and shopping assistant", and was rumoured to have explored buying Laybuy in April this year.

The deal, at the time, was not completed.

Klarna has now bought Laybuy's assets in New Zealand, and the BNPL lender will relaunch service. 

“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," Klarna's chief commercial officer David Sykes said.

Interest.co.nz has asked for further details on the deal.

Klarna said over half a million consumers in New Zealand have opened Laybuy accounts, which enabled them to shop at more than 10,000 merchants.

The Swedish company said it has 85 million active users globally, who conduct 2.5 million transactions daily. Klarna said it has over 550,000 retailers signed up worldwide, which includes big brands such a Uber, AirBnB, H&M, Sephora, Macy's and Nike.

Update Klarna spokesperson John Craske clarified that the relaunch will be as Laybuy. Craske declined to provide details on the value of the deal, and the outcome for local staff.

Deloitte partners Rob Campbell and David Webb who were appointed in June as receivers for Laybuy, said they are pleased that an agreement has been reached for Klarna to purchase the New Zealand assets of the BNPL lender group.

"Following a sale process that saw a number of parties express interest in acquiring the assets and/or business, an unconditional sale agreement has now been executed. The transaction with Klarna ensures that in the coming months," Campbell and Webb said in a media release.