New Zealand buy-now-pay-later company Laybuy announced it now has over 2500 Kiwi merchants online and in-store.

Servicing over 200,000 customers, the business expects its growth trajectory to continue.

Retailers across categories, including Glassons + Hallensteins, North Beach and Amazon, have signed up for the service so far.

The company said its new customer acquisition rates have increased by 30 per cent each month.

“This kind of growth is huge for a start-up which is now the fastest growing Kiwi buy-now-pay-later company,” Laybuy said in a statement.

Laybuy, which retail executive Gary Rohloff and his son Alex launched 12 months ago, is based in Auckland but has since expanded into Australia, with more growth and expansion planned for 2018.

“Laybuy is helping the retail industry recreate a service to their customers that was dropped by many retailers years ago because it was too costly and operationally difficult to manage,” a company spokesperson said.

“The plan is to continue to develop the product to it remains the best customer experience in the market; look at expanding into new categories for the buy now pay later market domestically; and we are expanding globally – with announcement’s to come on that in the next few weeks.”