Renofi Secures $14 Million To Enable Every Lender To Become A Renovation Lender

Apr 04, 2022•over 3 years ago

Amount Raised

$14 Million

Description

RenoFi, the renovation enablement platform company, today announced $14 million in Series A funding. The round serves as a strong endorsement of RenoFi's vision to empower lenders to offer best-in-class financing solutions that better meet the needs of today's homeowners. Canaan led the round with new participation from Nyca Partners and CMFG Ventures. The company will use the funds to scale its business operations and product roadmap, including its first-of-its-kind renovation enablement platform for lenders.

Company Information

Company

Reno Fi

About

Renofi is the renovation enablement platform company that empowers lenders to offer best-in-class financing solutions that better meet the needs of today's homeowners. The company offers the only end-to-end loan origination and underwriting platform specifically built to enable renovation lending, allowing homeowners to borrow against their home's post-renovation value, instead of the home's current value, and increasing borrowing power by 11x on average. The company is backed by leading investors including Canaan, First Round Capital, Nyca Partners & CMFG Ventures. To learn more please visit https://www.renofi.com/.

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Renofi Secures $14 Million To Enable Every Lender To Become A Renovation Lender

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