Papier earns USD 50 million out of Series C funding

Syifa, industry . 15 Feb 2022
papier

“Our mission is to build a stationery brand globally.” Taymoor Atighetchi, The CEO and Founder of Papier

Heaptalk, Jakarta — Papier, a technology-based stationery startup, has secured USD 50 million (1 USD equals Rp. 14,292) in the Series C funding round. The technology company aims to allocate this fresh funding to expand its business market in the United States and evolve its product offers.

The funding round was led by Paris VC and involved several capital firms DMG Ventures and Lansdowne Partners, as new investors, also Felix Capital and Beringea as existing investors. The startup has gained USD 65 million, a 150% growth in revenue over the last two years.

Papier’s CEO and Founder, Taymoor Atighetchi, delivered a statement, “The United States is the primary target market. We have obtained plenty of traction with a reasonably small investment of almost 40% of sales coming from that country. We don’t have anyone to create partnerships with local brands and businesses in the UK,”

Papier has opened an office in SoHo, New York, and will establish a local team this month for branding, marketing, and operation roles with more than 100 members to implement global growth.

“Taymoor and the Papier’s team have entirely found back the stationery necessities for costumers. They have taken offline-based traditional charm, sophistication, and personal touch to combine with consumer experience and technology-driven production processes. I have been deeply impressed by the team’s vision, ambition, and customer-first values,” Nahu Ghebremichale, The Partner of Singular, said in a statement.

Atighetchi added another statement, “Our mission is to build a global stationery brand. The market valuation reached USD 200 billion but lacked a powerful online brand. This funding is an essential component to reach the global market. We perceive the public’s role as part of this journey,”

This startup implements a direct-to-consumer business model by cooperating with print manufacturers in the UK and the US to process all orders. By presenting its offline-based stores in London and New York, Papier expects to offer every customer good product personalization.

(SYF/LNG)

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