Direct-to-consumer personalised stationery brand Papier has announced it has secured an $11m Series B funding round.
The company stated in a press release that 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 a pretty impressive portfolio with brands such as Monica Vinader, Thread and Festicket. Existing investors include 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.
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.”
Eyal Malinger, Investment Director at Beringea, added: “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.”