// STARTUP COMPARISON
Clínica Sim vs Percentil
Clínica Sim failed in 2023 due to Unit Economics. Percentil failed in 2019 due to Unit Economics. Both failed for the same reason — Unit Economics.
| METRIC | 🔥 Clínica Sim | 🔥 Percentil |
|---|---|---|
| Sector | Healthtech | Ecommerce |
| Country | Brazil | Spain |
| Founded | 2019 | 2012 |
| Died | 2023 | 2019 |
| Raised | $40M | €5M |
| Peak | $150M valuation (2022) | €5M raised |
| Primary Cause | Unit Economics | Unit Economics |
// WHY EACH FAILED
🔥 Clínica Sim
Unit Economics
Clínica Sim was a Brazilian telehealth platform offering $5 video consultations, subsidized by partnerships with health insurance plans (operadoras). The business model required health plan partners to pay a per-consultation fee, but Brazilian operadoras saw telehealth as a cost-saving tool and negotiated fees down from $12 to $4 per consultation over 18 months. With unit economics inverted — $5 consultation cost vs. $4 plan revenue — and B2C patients unwilling to pay $10+, the company raised a bridge in 2022 and shut in 2023.
// LESSON
Never build a B2B2C model where the B decides the price and the C is too price-sensitive to cover the shortfall. Health insurance companies have pricing power and procurement teams — startups do not.
Never build a B2B2C model where the B decides the price and the C is too price-sensitive to cover the shortfall. Health insurance companies have pricing power and procurement teams — startups do not.
🔥 Percentil
Unit Economics
Percentil built a curated secondhand children's clothing marketplace in Spain, raising €5M and achieving strong early traction. The core unit economics problem: each transaction required photographing, categorizing, storing, and shipping individual low-value items (average basket €20-30). The logistics cost per item was too close to the item value to achieve positive margins at any realistic scale. The company shut down in 2019 after failing to raise Series B.
// LESSON
Secondhand marketplaces with sub-€40 average baskets face a structural logistics trap. The unit economics only work if the seller handles logistics (C2C), not the platform (managed). Percentil chose managed — and paid for it.
Secondhand marketplaces with sub-€40 average baskets face a structural logistics trap. The unit economics only work if the seller handles logistics (C2C), not the platform (managed). Percentil chose managed — and paid for it.
// EXPLORE FURTHER