All autopsies

// STARTUP COMPARISON

Packlink vs Aplazame

Packlink failed in 2024 due to Competition. Aplazame failed in 2022 due to Acquisition Gone Wrong. Different causes, different sectors, different eras — but the same simulation outcome.

METRIC🔥 Packlink🔥 Aplazame
SectorMarketplaceFintech
CountrySpainSpain
Founded20122013
Died20242022
Raised€100M+€15M
Peak€100M+ raisedAcquired by WiZink 2017
Primary CauseCompetitionAcquisition Gone Wrong

// WHY EACH FAILED

🔥 Packlink
Competition
Packlink built a successful shipping rate comparison and booking platform across Europe, helping SMEs find the best carrier deals. After raising €100M+ and being acquired by Auctane (ShipStation parent), the core business model faced structural erosion: DHL, UPS, and FedEx built their own SME-focused direct portals with competitive pricing, eliminating the intermediary value. Packlink's European operations were significantly restructured in 2024.
// LESSON
Shipping aggregation is a time-limited arbitrage. The value exists because carriers are bad at direct SME sales. The moment they fix their SME go-to-market, the aggregator's value proposition evaporates.
🔥 Aplazame
Acquisition Gone Wrong
Aplazame was Spain's early BNPL (Buy Now Pay Later) leader, acquired by WiZink Bank in 2017 for an undisclosed sum. Post-acquisition, Aplazame was integrated into WiZink's consumer finance products and its brand gradually disappeared. By 2022, Aplazame as an independent product no longer existed — absorbed into WiZink's broader offering while global BNPL leaders like Klarna and Afterpay dominated the space the company had pioneered.
// LESSON
Being acquired by a traditional bank as a fintech is not an exit — it is a slow disappearance. Banks acquire to neutralize competition, not to scale the product. Aplazame pioneered BNPL in Spain and ended up as a footnote in WiZink's product catalog.

// EXPLORE FURTHER