Online startup Papier, known for creating ‘on demand’ personalised stationery, has just raised over $11 million through Series B investment. The company announced this will support a major push in the US as well as drive a number of product launches.
Papier sells a diary or notebook every two minutes, which it says proves that demand for paper products is growing in the digital age.
Founded in 2015 by Taymoor Atighetchi, Papier has quadrupled in size over the past two years. In this time it has created a strong lifestyle brand and built a loyal community of ‘stationery addicts.’
The Series B was led by Beringea, a venture capital firm that has helped build brands including Monica Vinader, Thread and Festicket. Beringea was joined by existing investors Felix Capital (backers of Farfetch, Goop and Mejuri), JamJar Investments (Innocent founders) and Downing Ventures.
Eyal Malinger, investment director of Beringea, commented: “Taymoor has rapidly built Papier into the destination for personalised 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.”
Since launching in the US late last year, 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 and advocates, as well as launching new collaborations with US-based design and brand partners.
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 in-house collections.
Papier continues to expand its product range, with new categories accounting for 50% of sales in the last year. These 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 (one in six couples in the UK now use Papier stationery for 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.
Taymoor Atighetchi, CEO and 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 and unique designs through innovative and collaborative partnerships, and developing high-quality products that feel as good as they look, while offering a seamless, tech-enabled customer experience.”