WiZink, the bank specializing in simple credit and savings solutions, acquires Spanish fintech startup Aplazame, which will continue to operate as an independent company.
The purchase of Aplazame will allow WiZink to deepen in the field of ecommerce to better respond to the day-to-day needs of customers, taking advantage of the exchange of knowledge and synergies that will be generated between both entities.
WiZink thus reinforces its strategy of collaboration in the new fintech market environment that arose after the emergence of new actors in the financial services sector and with the application of the new community directive on means of payment.
“The proposal of Aplazame fits perfectly in our digital profile and our philosophy of simplicity, to facilitate the day to day of the client,” said Iñaki Perkins, CEO of WiZink, via the Portuguese news publication Jornal Economico.
“While WiZink and Aplazame continue to operate as two independent companies, this purchase is yet another step towards becoming a benchmark in flexible payment methods and reinforcing our digital strategy as we enter the field of ecommerce,” he added.
Currently, Värde Partners is the only shareholder of WiZink, after the purchase of its 49% stake in the online bank to the Santander group. The private investment fund manager had held a 51% stake in WiZink four years ago.
Founded in 2014 and led by Fernando Cabello-Astolfi, Aplazame combines a split-payment method integrated into the checkout of online stores and the cash system of traditional physical stores.
The Spanish startup simplifies financing to increase sales, increase the value of the average purchase ticket, improve conversions, and attract more customers.
In a 2015 interview with Novobrief Founder and former owner, Jaime Novoa, who works full-time at Madrid’s K Fund, Cabello-Astolfi outlined his goals for Aplazame, which have now become a reality.
Read More: Consumer credit company Aplazame wants to fund your ecommerce purchases
“We need to demonstrate that we are able to manage a large number of transactions, control risk as much as possible and show potential investors that this is a profitable and interesting opportunity,” said Cabello-Astolfi back in 2015.
“If we can achieve this, we’ll be able to generate a lot of data that defines consumers very well thanks to two key characteristics: what they’re interested in buying and how they usually pay for things. This is very valuable information.
“In an ideal scenario, a year from now we’ll be well positioned to attract more investment (or debt) because we’ve proven that we’ve built a viable business,” he added.