Wednesday 4 September 2019 12:32 am

London design startup Papier picks up $11m from top UK venture funds

Personalised stationery firm Papier today closed an $11m (£9.1m) funding round, led by Monica Vinader backer Beringea.

Other investors such as Felix Capital, Innocent Drinks’ founders fund Jamjar Investments and Downing Ventures also participated, taking Papier’s total raised to date to $15m.

The design company said it will use the funding to accelerate its growth in the US, which accounts for 15 per cent of the brand’s total revenue and is growing at around 40 per cent each month. It will also expand its product range and build new collaborations.

“We are entering our most exciting phase yet,” said founder and chief executive Taymoor Atighetchi.

“This investment will allow us to build on the strength of our brand and community and extend its reach and appeal globally.”

In the last 12 months, Papier has launched collaborations with top brands such as Disney, House of Holland and Desmond & Dempsey among others. It has also expanded on its successful established collections, such as with the V&A and Mother of Pearl.

Source: Papier, Mother of Pearl collection

The brand said new categories in its product range accounted for 50 per cent of sales in the last year. Recent product launches have included the Papier photo book, framed print, diary, wedding guest book and table plan – largely aimed at the wedding sector, in which it claimed one in six UK couples now use its stationery.

“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,” said Beringea investment director Eyal Malinger.

“Beringea has backed the vision and growth of the business and we will now work closely with Taymoor to scale an international success story.”