Papier secures $11m Series B to accelerate transatlantic growth
September 4th 2019
Beringea leads latest investment into the rapidly growing personalised stationery brand led by Taymoor Atighetchi
(London, UK) Papier, the direct-to-consumer personalised stationery brand, has announced it has secured $11m in its Series B funding round. The investment will enable Papier to accelerate its growth in the US, which already accounts for 15% of the brand’s total revenues, as well as building on its collection of leading design collaborations and expanding its range of innovative products.
The fundraise was led by Beringea, a transatlantic venture capital firm that has backed successful international brands including Monica Vinader, Thread and Festicket. 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 $15m.
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 £2.1bn by 2021, while the US hobby and stationery market is today estimated to be worth $52.9bn and it is projected to grow by 9% 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% of the brand’s total revenue and is growing at over 40% 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.
Commenting on the fundraise Eyal Malinger, Investment Director at Beringea, said: “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 said, “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.”
Collaborations have given the brand an established fanbase in design, interior and fashion circles. In the last 12 months Papier has launched highly coveted design collaborations with Disney, House of Holland, Desmond & Dempsey, Romance Was Born, Fee Greening and Matilda Goad, and has also expanded its existing collections with the V&A, Mother of Pearl and Luke Edward Hall. Must-have design partnerships will continue to be a key focus for the brand as it grows, alongside developing further in-house collections.
Papier continues to expand its product range, with new categories accounting for 50% of sales in the last year. Recent product launches have included the Papier photo book, framed print, diary, wedding guest book and table plan. Papier continues to invest in technology and innovation, most notably in the wedding stationery market (1 in 6 couples in the UK now use Papier stationery in their wedding). The business now offers pre-addressed envelopes and printed place names, making it the only major online brand in Europe to offer this, saving precious time for brides & grooms-to-be.