SurfStitch founder snags $42m from ABN AMRO for sustainable retail biz

afr.com:

Justin Cameron, the co-founder of online retailer SurfStitch, has snared $US27.5 million ($42.13 million) of funding from ABN AMRO in Europe for his ecological group of brands ranging from oat milk to cloth nappies.

Mr Cameron said getting this funding for his Think Better Group was an achievement in the current market where fundraising is proving to be extremely difficult for venture capital and private equity funds.

The former investment banker is now executive chairman of TBG, which he co-founded with Heath Jansen, the former head of metals and mining research at Citi in London and now the company’s chief executive.

Manly-based entrepreneur Justin Cameron, who is also executive chairman at Think Better Group, which has invested in sustainable brands from cloth nappies to oat milk products.  Oscar Colman

“We are looking to utilise this capital to invest in businesses looking to scale globally. We provide a platform for the founders to get on to do what they do best around building their brand, and we take on all aspects of operating the businesses such as e-commerce, manufacturing and supply chain,” Mr Cameron told The Australian Financial Review.

TBG is an investor in brands that focus on recycling and lower consumption including Econaps, a Byron Bay-based cloth nappies group, oat milk producer Minor Figures, sustainable coffee company Colonna and Project Blank, which makes wetsuits out of plastic bottles.

Part of the company’s mission is to provide consumers with alternatives to single-use plastic products by prioritising the use of plant-based materials.

“We want to be a challenger to the Kimberly Clarks and Unilever’s of the world, however with a sustainable brand focus,” Mr Cameron said. “ABN AMRO is the perfect