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Horizon Technology Finance Provides $9MM Venture Loan Facility to Primary

March 01, 2021, 07:50 AM
Filed Under: e-Commerce

Horizon Technology Finance provided a $9 million venture loan facility to Primary Kids, Inc., of which $6 million has been initially funded.

Primary is an online baby and children's clothing brand offering timeless styles in a rainbow of solid colors and classic prints, all free of logos and slogans. Prominent investors in Primary include U.S. Venture Partners, Homebrew, Harrison Metal Capital and Female Founders Fund. Primary will use the loan proceeds for general growth and working capital purposes.

"Primary is an innovative e-commerce company with an important ESG component in a large and growing consumer space," said Gerald A. Michaud, President of Horizon. "The addition of Primary to our investment portfolio is another example of Horizon's commitment to provide loans to strong, growth-oriented companies with experienced management and leading investors. We are pleased to support Primary as they continue to grow their business."

"We are excited to receive Horizon's support so that we can continue building the Primary brand and deliver on our mission to help every kid feel confident inside and out," said Galyn Bernard and Christina Carbonell, Founders and co-Chief Executive Officers of Primary. "Our focus on essentials that are not gender prescriptive has earned a passionate following in the growing millenial base of parents, who are eager to support sustainable, high-quality products, from a company that values inclusivity. Horizon's investment will help us to continue to invest in our supply chain and our offerings to the customer, which will help us to expand our business."

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