Paperstack, a Toronto-based fintech startup, is developing a business intelligence platform that will benefit eCommerce merchants all over the world.
The Startup was founded to assist eCommerce entrepreneurs in managing and growing their enterprises. The software, which is under early access on their website and the Shopify App Store, helps online retailers automate bookkeeping, visualize cash flows, and make better supply chain and marketing decisions.
“We were astonished by the disparity in resources available to those who wish to develop a profitable firm in 2021 while running our business during the pandemic.” I was helping customers who couldn’t afford to employ a Private Wealth Advisor or a Fractional CFO to help them make better financial decisions while working at a bank. I believed that making financial information more accessible to millions of other people, particularly small company owners, would be beneficial, so I set out to establish a platform to do so.” – ” Beglinova CEO paperstack
“Over 40 million online merchants sell through platforms like Shopify, Amazon, Etsy, and WooCommerce,” according to Lidich CTO paperstack.
“It can be difficult to manage and build an e-commerce business. Tracking revenues and expenses, analyzing product profitability, and projecting cash flow and product demand all require a team. However, making informed business decisions will be impossible without a thorough understanding of the financials.” Lidich continued.
“We assist e-commerce retailers in making better use of their data to better manage and expand their businesses. We help eCommerce entrepreneurs realize their full potential by assisting them in growing and achieving revenue targets.”
Paperstack has also attracted the attention of investors. Last summer, the startup received $250,000 in pre-seed funding from 18 angel investors.
Employees from Shopify, Clearco, and Wealthsimple were among the investors in the pre-seed round, according to Beglinova. “Since then, we’ve received investments from Techstars and welcomed more investors, including Techstars alumni, banking executives, and staff from leading tech companies.”
The company had a busy fall season this year. Paperstack has been accepted for inclusion in the Shopify App Store, bringing their “Fractional CFO” to the platform’s 1.8 million online shops.
“We like assisting our customers and watching Paperstack’s impact,” Lidich remarked. “Supporting small businesses across the country that are battling to stay afloat every day during the pandemic is extremely fulfilling.”
“We take delight in making a difference.” Not the kind of effect that billion-dollar corporations take for granted, but the kind that keeps families and immigrant-owned businesses in their communities, despite all of 2021’s disappointments and tragedies.”
“Our goal is to empower 40 million e-commerce sellers worldwide to compete with brands like Nike, Apple, and Zara,” Beglinova added. “Just because you’re a small business,’ doesn’t mean you can’t achieve your goals.”
“Thanks to the technology we’re democratizing here at Paperstack, what was formerly only available to a select few is now open to all eCommerce businesses.” And we expect to be able to do so for many more years to come.”
Image Credit: Paperstack