Taken from Bombora's June Quarterly Report...
"Laybuy Limited (ASX:LBY), a buy-now-pay-later fintech solutions provider was a detractor in the June 2021 Quarter. In the June Quarter, Laybuy completed a A$35 million placement and A$5 million SPP, to accelerate growth in the UK market and also entered into strategic partnerships with Rakuten, AWIN and Sovrn, providing access to more than 5,000 merchants in the UK including ASOS, Nike, Marks & Spencer, Amazon and Ebay. Laybuy reaffirmed it is on track for GMV to exceed NZ$1 billion and for revenue to grow between 90% and 100% in FY22. Despite the largely retail selloff, the Manager retains conviction in the Laybuy investment and continues to monitor the investment closely including interacting with Management on a regular basis."
Bombora are still confident in LBY and are closer to the source. May not count for much but it's slightly reassuring.
