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RenoFi Raises $22 Million Series B to Expand AI Renovation Financing Platform
Mar 5, 2026
RenoFi has raised $22 million in a Series B round led by Fifth Wall, with participation from Progressive Insurance and other investors, to scale its AI-enabled renovation financing platform and partnerships with credit unions.
RenoFi has secured $22 million in Series B funding to expand its AI-enabled renovation financing platform, announced in a press release. The round was led by Fifth Wall, with participation from Progressive Insurance, HighSage Ventures, Alumni Ventures, Flintlock Capital, and Gaingels. Existing investors, including Canaan, First Round Capital, Curql, and TruStage Ventures, also joined the round, bringing RenoFi’s total funding to $65 million.
The company plans to triple its team of renovation financing specialists and expand partnerships with credit unions and embedded financing platforms. RenoFi’s platform integrates modern credit underwriting with a proprietary AI renovation-underwriting engine that supports near-real-time loan approvals.
Founded in 2018, RenoFi offers the Renovation HELOC, a home equity line of credit that uses a property’s After-Renovation Value rather than its current value. The company is licensed in 48 states and has processed over 8,000 renovation loans, totaling more than $1.5 billion in funded projects.
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