NEW YORK CITY — October 26, 2021 — Fair Harbor, maker of sustainable swimwear, clothing, and accessories, today announced it received $7 million in funding from Gerber Finance, an eCapital company and the leading finance partner for companies experiencing accelerated growth. The funding will fuel Fair Harbor’s expansion into a full lifestyle company providing products for every member of the family.
Founded in 2014 by siblings with backgrounds in fashion and climatology — Millennial Jake Danehy and Gen Z Caroline Danehy — Fair Harbor is an active lifestyle brand that turns post-consumer recycled water bottles into swimwear and clothing with the goal of preventing pollution to Earth’s oceans. To-date, Fair Harbor has recycled more than 10 million plastic bottles, preventing waste from entering the ocean. Fair Harbor has seen a steady rate of 1,000-percent year-over-year growth since before the pandemic and has recently expanded its product offering beyond swimwear in addition to launching a kids’ line.
“We chose Gerber Finance for two reasons,” said Jake Danehy, CEO of Fair Harbor. “First, they offer a more creative financing structure than we saw elsewhere in the market, and this structure will be pivotal in facilitating our continued growth. And, we spoke with some of Gerber’s existing clients and they all said Gerber stands out by being a true partner through good times and bad. We’re most excited about that partnership as we work with Gerber to continue to build our business.”
“Fair Harbor has seen incredible growth, and we love Jake and Caroline’s passion and purpose,” said Jennifer Palmer, CEO of Gerber Finance. “Fair Harbor’s model of turning recycled water bottles into clothing aligns with our commitment to fund companies giving back to the community and the planet through our Naturally Gerber Finance division, and we look forward to supporting their continued success.”
Gerber launched its Naturally Gerber Finance division in 2020 to serve the needs of the growing base of natural products companies in its portfolio. The team has funded dozens of natural products companies including Stasher, Coola, Honey Stinger, and Om Mushroom Superfood, along with sustainable clothing company Pact.
Posted October 26, 2021
Source: Fair Harbor
