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The creators behind the online social media newspaper service Paper.li are to expand into the US and Asia after receiving millions of dollars worth of funding. In a blog post on the Paper.li site , parent company SmallRivers, which is currently based in Switzerland, announced that it has raised $2.1 million in investment from a trio of capital firms.

"Paper.li has generated extraordinary traction since its launch, and we are thrilled to welcome these world-class venture capital firms as investors," Edouard Lambelet, president and CEO of SmallRivers said in the post.

"Our new partners will be instrumental in helping us to enhance our team, build strong partnerships with major service and content providers, establish operations in the US and Asia, and accelerate growth on all continents." Paper.li, which launched last year, works by aggregating and categorising news and activity streams from social media platforms Twitter and Facebook and then presenting it to users in the form of personalised online newspapers.

It claims to already have two million unique users and is publishing 140,000 user-created daily newspapers.

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Written by
Rachel Bartlett

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