10. September 2020
We have advised Laybuy on the UK aspects of its IPO on the Australian Securities Exchange (ASX). This included the associated pre-IPO corporate reorganisation and a £80 million debt facility with U.S. funding provider Victory Park Capital. Launched in New Zealand in 2017, Laybuy is a leading Buy Now, Pay Later (BNPL) service in New Zealand, with a growing presence in the UK and Australia.
This complex project drew on deep expertise drawn from across the firm's IP, financial services regulatory, commercial, technology and data, corporate technology, private capital & corporate finance, banking and finance, immigration, employment and tax, and incentives teams.
Commenting on the deal, partner Charles Lloyd said: "Laybuy is in the process of becoming a global brand with an innovative offering. It's been a privilege to support Gary Rohloff and the Laybuy team on its successful debut on the ASX."
Gary Rohloff, Managing Director of Laybuy, said: "This is an important moment for Laybuy. The UK is currently our fastest growing market, and we predict it can deliver the massive growth investors are looking for. The Taylor Wessing team has been outstanding for us."
The team was led by partners Charles Lloyd and Philip Shepherd, with support from: Charlotte Hill (partner), Anna Humphrey (partner), Lerika Joubert (partner), Gareth Lawson (partner), Sian Skelton (partner), Liz Wilson (partner), Fiona Coady (senior counsel), Vikki Wiberg (senior counsel), Katie Espigares (senior associate), Katie Fellows (senior associate), Katie Lewis (senior associate), Xuyang Zhu (senior associate), Kate Bowden (associate), Joe Cooper (associate), Gabriel Goh (associate), Katie Horbury (associate), Matthew Ives (associate), Madison Lawler (associate), Tamara Mackay-Temesy (associate), Nadine Simpson-Ataha (associate), Julia Steinhardt (associate), Phil Cerny (trainee solicitor), and Alexander Tocili (trainee solicitor).