London’s impresario of all things paper, Papier has raised $50 million in a Series C funding round. While the ink on the investment dries, the bespoke sustainable stationery products producer will push forward with an aggressive international expansion plan, particularly focusing on the US, a market that already accounts for 30 percent of Papier's revenues. To date, the startup has raised $65 million in funding.
Founded in 2015 by Taymoor Atighetchi (which, appropriately, translates to "art dealer” in Persian), Papier employs high tech solutions to a decidedly low-tech product. In doing so, the startup not only taps into a nostalgia of yesteryear but also makes good on its promise of delivering products that “feeds curiosity and contemplation.”
The tapping into this zeitgeist is so strong that Papier reports nearly doubling in size year-on-year in order to support strong customer demand, 53% of whom are millennials. The past few years, read: pandemic, have seen the company grow by leaps and bounds.
Given the dramatic rise in “work from home” (or is that live at the office?), and the renaissance of analogue pastimes such as journaling and card-sending, it would come as no surprise that Papier has seen revenues grow by over 150 percent in the past 2 years.
The firm's $50 million Series C round was led by Singular and saw dmg ventures Lansdowne Partners and Kathaka all participating. Existing investors Felix Capital and Beringea also followed on.
“Taymoor and the Papier team have completely reinvented stationery for today’s consumer. They’ve taken the traditional charm, sophistication, and personalised touch of the offline paper world, and merged it with a seamless, tech-driven consumer experience and production process,” commented Singular’s Nahu Ghebremichael. “I’ve been so impressed with the team’s vision, ambition, and consumer-first values.”
Images: Liz Seabrook
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