Paperclip Secures Over £500k Funding In Latest Investment Round

The marketplace app PaperClip has secured more than £500,000 in their latest funding round.
The round of funding was headed-up by existing investor the Development Bank of Wales, with additional funding from GoCompare founder Hayley Parsons, the ex-CFO of the Financial Times as well as Tim Ward, who was also part of the team that sold Friends Reunited to ITV in
a deal worth £175 million just over a decade ago.
Paperclip, founded by London-based graduates Rich Woolley and Alan Small, allows users to buy, sell, swap and give away second-hand goods with nearby Paperclip users.
The firm has recently moved it’s operations to Cardiff and has partnered with both Student Money Saver and MoneyMagpie to provide exclusive marketplaces for their users. Paperclip also has a B2B proposition that is poised to disrupt the enterprise marketplace industry.
Paperclip CEO, Rich Woolley said: "Our marketplace platform is growing fast, with continued user uptake and enterprise partner releases doubling by the month, alongside a growing pipeline with some big names. 2017 was a big year for Paperclip; we grew from three of us working in a flat to a team of 16. We moved to a fantastic office in Cardiff city centre and opened up an office in the Czech Republic.
"This latest round of funding involved strengthening our board with experienced founders, investors, and veteran C-levels. We’re all excited to make 2018 another record breaking year at Paperclip."
Ms Parsons said: "When I met the Paperclip team, I was impressed by their ambitions for the business and instantly knew I wanted to invest in them – it’s difficult not to get excited by their energy and passion, but also the product was something I was particularly drawn to.
Development Bank of Wales Investment Executive Sarah Smith added: "The Paperclip team have developed a user friendly piece of software which is gaining more users week-by-week and with the addition of new B2B market enterprise proposition there are exciting times ahead. Their plans for the future are exciting. This latest co-investment also sees them gain support from some of the industry’s leading lights who will further support and advise the team.” 
For more information about Paperclip, check them out on Facebook here (https://www.facebook.com/paperclipHQ/).

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1 comment:

  1. This must certainly be a new firm, will I love it growth.

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