Howzat Partners backs Paper & Tea's series-A

Existing investor IBB Beteiligungsgesellschaft also took part in the round alongside business angels from the fashion industry.

The company currently generates most of its profits from its two stores in Berlin. Paper & Tea plans to expand its online shop with the fresh capital.

Howzat focuses on early-stage companies in the digital sector and has notably invested in hotel-booking service Trivago.

Previous funding
The first financing round in October 2013 saw Paper & Tea receive a seven-digit investment. The money was injected by DCM Ventures and IBB, as well as business angels Hsiao Lun Tai and Lenard Krawinkel.

Company
Founded in 2012 and based in Berlin, Paper & Tea is a tea business operating two shops in Berlin and an online shop. Besides tea, the shops also sell tea accessories and gift cards.

People
Jens de Gruyter is the founder and managing director of Paper & Tea. Sascha Hausmann is a partner at Howzat.

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• Topics
• DACH
• Consumer
• Expansion
• Germany