Fast-growing Cardiff tech company Paperclip secures £750,000 of funding
A fast-growing Cardiff tech company has secured £750,000 in its latest funding round, with a number of prominent investors taking part.
Paperclip, a digital marketplace platform, has raised more than £1.5m in four years. It allows users to trade second-hand goods with others nearby. It has become well integrated in British university life with more than 40 institutions offering dedicated platforms to students.
Its most recent round was opened publicly to private investors through equity crowdfunder Seedr.
"We are over the moon to have secured such a substantial amount in our latest funding venture," said chief executive Rich Woolley.
"The Paperclip platform is growing very quickly, with continued user uptake and university partners increasing all the time. This fund will go a long way towards ensuring that we continue to offer a slick and easy experience for users while always moving forward with innovation."
Notable angel investors in the platform include Hayley Parsons, founder of GoCompare; David Buttress, former chief executive of Just Eat; Ilona Simpson, board member at Lamborghini and Tariq Linjawi, managing partner at the United Consulting Group Saudi Arabia.
The business has also secured funding from Mayfair-based venture capitalist Green Shores Capital.
Along with his investment, entrepreneur David Buttress has also been appointed to the board at Paperclip, joining fellow business leaders Hayley Parsons and former CFO of the Financial Times John Davis in their advisory roles.
This latest funding round will enable Paperclip to more than double its university presence, from 40 to more than 90 by the end of 2020.
The business has also recently moved into larger headquarters in Stadium Plaza, Cardiff, to accommodate its growing team.
Original article published on Insider Media.