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Acting for Chicago based Victory Park Capital on £80 million facility agreement to Laybuy

Posted on 30 July 2020

Mishcon de Reya acted for Victory Park Capital (“VPC“), based in Chicago, on an £80 million facility agreement to Laybuy. Laybuy are one of the leading competitors to Klarna in the “buy now, pay later” sector. The deal was signed on Friday 24 July 2020 and was immediately announced by Laybuy as a key element of the launch of their IPO on  the Australian Stock Exchange. The technology allows shoppers to pay for in-store or online purchases over six weekly payments interest free. VPC’s funding will enable Laybuy to strengthen its position in the UK market.

Laybuy has grown exponentially since we launched three years ago and we would not be able to continue to scale without our investors’ support and confidence in our vision,” said Gary Rohloff, co-founder and CEO of Laybuy. “In addition to increasing our customer base in our established geographies and sectors, our expansion in the UK is a critical component of our growth strategy and VPC’s backing will enable us to strengthen our position in the market.

This involved a cross-firm team comprising Legal Director Sarah Spurling, Associates Laura Ogden and Christian Anthony and Legal Administrator Thomas Jacob from the Real Estate Finance team, Partner Saul Sender and Associate Remy Browning from Corporate, Partner Lewis Cohen and Associate Emily Dorotheu from the IP commercial team and Barrister Alison Potter from the Regulatory team.

For more information in the Victory Park Capital press release, please click here.

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