London-based stationery startup Papier has secured a $50m funding round as it looks to fuel a global expansion plan, the firm announced today.
The fresh funding round in Papier, which produces sustainable stationery products, was led by Paris-based firm Singular alongside investors including DMG Ventures, the backers of Cazoo and Zoopla.
The new round takes Papier’s total capital raised to $65m since it was founded in 2015.
Taymoor Atighetchi, CEO & Founder of Papier, said the new capital would now allow the firm ramp up its expansion plans and target the US, which already accounts for 30 per cent of its revenues.
“With this new round of capital, Papier can take a big bold step forward in our ambition to be a global brand and double down in our investment in the US market,“ he said.
Nahu Ghebremichael, Partner at investor Singular, will now join the board of Papier to work with the firm as it gears up for expansion.
She said: “(Papier) has 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.
“I’ve been so impressed with the team’s vision, ambition, and consumer-first values”
Papier’s revenues have grown over 150 per cent over the past two years, which the firm says has been fuelled by a boom in consumers embracing activities like journaling.
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Stationery start up Papier raises $50m to fuel global expansion