Papier, a direct-to-consumer personalised stationery brand, has secured USD11 million in a Series B funding round led by venture capital firm Beringea.
The investment will enable Papier to accelerate its growth in the US, which already accounts for 15 per cent of the brand’s total revenues, as well as building on its collection of leading design collaborations and expanding its range of innovative products.
Existing investors Felix Capital (backers of Farfetch, Goop and Mejuri), JamJar Investments (the venture capital fund run by the Innocent Drinks founders) and Downing Ventures also participated in the round, which brought the total funds raised by Papier to over USD15 million.
Papier has grown rapidly since its foundation in 2015 by Taymoor Atighetchi, tapping into resurgent demand for highly tactile and engagingly designed paper products and stationery. Industry analysts predict that this consumer trend will lead the UK stationery market alone to be worth GBP2.1 billion by 2021, while the US hobby and stationery market is today estimated to be worth USD52.9 billion and it is projected to grow by 9 per cent annually over the next four years.
Papier has established itself as the leading direct-to-consumer brand in personalised stationery, building a growing international community of ‘stationery addicts’. Since launching in the US in 2018, the market now accounts for 15 per cent of the brand’s total revenue and is growing at over 40 per cent each month. With this new round of investment, Papier plans to accelerate growth in this market by building on its strong community of customers & advocates, as well as launching new collaborations with US-based design and brand partners.
Eyal Malinger, Investment Director at Beringea, says: “Taymoor has rapidly built Papier into the destination for personalised stationery products, developing a remarkable team and a curated collection of designs to inspire a growing community of hundreds of thousands of stationery lovers around the world. Beringea has backed the vision and growth of the business and we will now work closely with Taymoor to scale an international success story.”
Taymoor Atighetchi, CEO & Founder of Papier, says: “We are entering our most exciting phase yet. This investment will allow us to build on the strength of our brand and community and extend its reach and appeal globally. This needs to work hand-in-hand with our steadfast determination to offer beautiful & unique designs through innovative & collaborative partnerships and developing high quality products that feel as good as they look, while offering a seamless, tech-enabled customer experience.”
