Jenson SEIS Fund Invests in Paperound.com
Booming remote working sees rapid rise of Paperound.com.
Jenson Funding Partners are delighted to advise they have completed an investment in Paperound.com, a marketplace for busy business owners to access intern resource on-demand.
Paperound has launched at a time where 66% of small business owners are spending their time on activities that are not important, and more than half of founders look to improve their business by delegating more tasks (Source: Pulse Survey, The Alternative Board).
To answer this problem, Paperound provides UK Students ('Taskers' on the platform) that are booked for as a little as one hour to work on the company tasks founders don’t have time for, and businesses only pay when the work is done.
For founders, Paperound gives them access to extra resource at the times they need it most, without needing to commit to a full-time hire. For students, it is a way to earn money and build their experience.
All Taskers on the Paperound platform are current UK university students who are keen build on their experience. The Paperound team pre-vets all Taskers, selecting those that show initiative, relevant skills, and a desire to deliver value to small businesses.
Jake Fox, CEO of Paperound has a background in strategic consulting as well as various roles in start-ups. The inspiration for Paperound came from his personal experience as a student looking for opportunities, and then being a founder looking for flexible resource.
Jake commented: “Students, especially now, have a hard time accessing the opportunities that can kickstart their career. It’s a hugely competitive space, even for those that show real potential. Also, on the company side I’ve been in the position where knowing you need the extra pair of hands, and finding the right people, and actually getting a quality output, is a really difficult process. It needed something simple, fast and cost effective.”
Paperound has been one of the businesses to benefit from the Covid pandemic. As remote working has hit the mainstream across the UK and many businesses have introduced new ways of working, Paperound has taken the opportunity to provide a full digital solution, where Taskers are booked, briefed and work delivered remotely.
On the investment, Jake commented; “We went live at the start of this year and instantly had the majority of customers becoming recurring users. Jenson got onboard with the vision straight away and with their experience as early-stage investors, knew what was required to take this business to the next level. The next 12 months is now about putting our product and marketing plan into action”.
Jeffrey Faustin, CIO of Jenson Funding Partners said: “We are delighted to be joining Paperound as an investor and working with them to deliver their product and marketing plan. As a small team we fully appreciate the service that Paperound offers and look forward to exploring the intern market with them.“