RenoFi
- Company typePrivate
- Founded2018
- HeadquartersPhiladelphia, United States
- Headcount51–100
- GTM typeB2C
- OfferingServices
RenoFi firmographics
Firmographics- Name
- RenoFi
- Legal name
- Renovation Finance LLC
- Website
- https://renofi.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
RenoFi industry classification
Industry- Product category
- Home Renovation Financing
- NAICS
- Residential Remodelers (236118)
- SIC
- Mortgage Bankers & Loan Correspondents (6162), Loan Brokers (6163)
- akta.pro primary industry
- Renovation/Remodel-to-Perm Financing (Owner-Occupied) (FSALAHAF)
- akta.pro secondary industries
- Renovation Mortgage Origination (FHA 203(k), HomeStyle, CHOICERenovation) (FSALAAAL), Construction-to-Perm & Renovation Loan Brokers (FSALABAF)
Keywords
Where RenoFi is headquartered
LocationHeadquarters
- HQ city
- Philadelphia
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
RenoFi business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- Renovation Underwriting & Loan Origination Fees: RenoFi monetizes by underwriting renovation projects and facilitating loan funding through partner credit unions; revenue is tied to successful completion and funding of renovation loans, not per-lead or software fees.
- Renovation Enablement Platform (B2B Lender Software): Earlier Series A-stage product was a purpose-built loan origination and underwriting platform for lenders to enable renovation lending; this B2B lender-software motion underpins the current credit-union partnership model.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | RenoFi Home Equity Loan (flagship): $25K–$750K, up to 95% of ARV or 125% of current LTV; full amount at closing; variable or fixed rates; up to 20-year repayment. |
| Other | Multi-year contract | Traditional Home Equity Loan (brokered via credit union network): $25K–$500K, up to 90% of current LTV. |
| Other | Multi-year contract | Renovation Personal Loans: $10K–$75K, fixed rate, up to 20-year repayment. |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels9 records
RenoFi product offering
Product offeringCore offering
RenoFi operates an AI-enabled renovation financing platform that underwrites home renovation loans using the property's projected After-Renovation Value (ARV) rather than its current value. It originates a suite of renovation-specific loan products (Home Equity Loan, Renovation HELOC, Renovation Personal Loan, Cash-Out Refinance) on behalf of partner credit union lenders, and connects homeowners with those lenders through its underwriting technology, concierge advisors, and contractor/realtor referral channels.
Product overview
RenoFi is an AI-enabled renovation financing platform that operates as a multi-product marketplace connecting homeowners with credit union lenders. Its core platform — the RenoFi Renovation Underwriting Platform — uses proprietary AI to assess properties based on their after-renovation value (ARV) rather than current value, enabling 11x more borrowing power on average than traditional home equity products. The platform offers a suite of renovation-specific loan products: the flagship RenoFi Home Equity Loan (fixed and variable), the Renovation HELOC, RenoFi Renovation Personal Loans for fast funding, and the RenoFi Cash-Out Refinance. All products are powered by RenoFi's AI-enabled Renovation Underwriting technology and delivered through partner credit unions across 48 U.S. states. Complementary offerings include the RenoFi Loan Calculator, RenoFi Advisors (concierge loan officers), and the RenoFi for Contractors program, which provides free financing tools to over 4,000 contractor partners.
Differentiator
Problem solved
Functional benefit
Products and services
- Renovation HELOC (RenoFi HELOC) A home equity line of credit that lends against the home's after-renovation value (ARV) rather than current value, allowing borrowing up to $750K or 90-95% of ARV with both variable and fixed-rate options, a 10-year draw period, and 11x more borrowing power on average than a traditional HELOC. Targeted at U.S. homeowners undertaking major renovations.
- RenoFi Home Equity Loan RenoFi's flagship fixed-rate renovation home equity loan, available in both variable and fixed rate, with loan amounts of $25K to $750K. Leverages the property's after-renovation value to enable up to 95% of ARV or 125% of current LTV borrowing power, with repayment terms up to 20 years; full loan amount disbursed at closing with no draws or inspections required. Targeted at U.S. homeowners funding major renovations.
- RenoFi Renovation Personal Loans Unsecured fixed-rate personal loan for fast funding of smaller renovation projects, with loan amounts of $10K to $75K based on credit and income, and repayment terms up to 20 years. Targeted at homeowners needing quick funding for smaller renovation projects.
- RenoFi Cash-Out Refinance A cash-out refinance that borrows against the home's after-renovation value (ARV), enabling homeowners to take out up to 11x more cash than a traditional cash-out refinance. Replaces the existing first mortgage while incorporating renovation financing, delivered through credit union partners.
- RenoFi Fixed-Rate Home Renovation Loan The first-ever fixed-rate home renovation loan from RenoFi, allowing homeowners to borrow up to 90% of their After-Renovation Value (ARV) and receive full funds directly at closing up to $500,000. Available through partner lenders across 48 U.S. states with no restrictions on renovation types including ADUs. Launched to address demand for fixed-rate renovation financing amid rising interest rates and home prices.
- RenoFi for Contractors Free contractor partner program providing U.S. contractors with tools to embed RenoFi financing in their proposals, including monthly payment calculators, loan option embeds, advisor connections, and a dashboard to track homeowner progress. Used by 4,000+ contractors nationwide including Harth Builders, Great Additions Construction Co., and CMW Home Remodeling.
Quantifiable outcome
- Average 11x more borrowing power vs. traditional home equity loans for equity-light homeowners
- +4 more outcomes
Companies that use RenoFi
Customer profileNamed customers18 records
Segments5 records
Ideal customer profiles4 records
RenoFi technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature4 records
RenoFi partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core lending partner, core distribution channel, mid-tier partner and recruiting source.
- Ardent Credit Unioncore lending partnerNamed credit-union partner that participated in RenoFi's Series B round and originates RenoFi-branded renovation loans for credit-union members via RenoFi's underwriting technology.
- Chartway Credit Unioncore lending partnerNamed credit-union partner that participated in RenoFi's Series B round and originates RenoFi-branded renovation loans for credit-union members via RenoFi's underwriting technology.
- First Community Credit Unioncore lending partnerNamed credit-union partner that participated in RenoFi's Series B round and originates RenoFi-branded renovation loans for credit-union members via RenoFi's underwriting technology.
- USALLIANCE Financialcore lending partnerNamed credit-union partner that participated in RenoFi's Series B round and originates RenoFi-branded renovation loans for credit-union members via RenoFi's underwriting technology.
- Credit Union Network (RenoFi Lending Partners)core distribution channelRenoFi works with a network of local and regional credit unions that leverage its Renovation Underwriting technology to offer RenoFi-branded HELOC, Home Equity, Personal and Cash-Out Refinance loans. Credit unions are chosen for low rates and fees; partners include Ardent Credit Union, Chartway Credit Union, First Community Credit Union, and USALLIANCE Financial.
- RenoFi Contractor Network (4,000+ contractors)core distribution channelFree contractor partnership program in which 4,000+ U.S. contractors embed RenoFi financing options into their proposals; contractors include Harth Builders, Great Additions Construction Co., CMW Home Remodeling, Anchored Tiny Homes, Avorino, Backyard, Bside, Build Appeal, Captain Remodel, Glad, Haus, Jazz, Kit, Morty, Newblok, Nucave, Riverside, Studio Shed, and Willet.
- Thumbtackmid-tier partnerIntegration via the Thumbtack marketplace to help RenoFi customers find local home improvement professionals, extending RenoFi's contractor ecosystem.
- Realtor Partner Networkmid-tier partnerDedicated RenoFi for Realtors program enabling real estate agents to refer home buyers needing renovation financing to RenoFi; surfaced via dedicated /realtor/ landing page.
- Guaranteed Raterecruiting sourceGuaranteed Rate is identified as the previous employer of EVP hire Brandon Silvia rather than a formal commercial partner; included as a talent pipeline reference.
Scale indicators12 records
Recent moves7 records
Expansion highlights6 records
RenoFi competitors and assessment
Company assessmentDirect peers
- Figure Technologies: Figure Technologies is a fintech lender offering HELOC, home equity loans, and home improvement financing using proprietary technology and blockchain rails. It is the closest direct competitor to RenoFi in AI-enabled, technology-led home equity and renovation lending to U.S. homeowners.
- Hearth: Hearth is a fintech home improvement financing platform that connects homeowners with lenders and offers contractor-embedded payment plans. Like RenoFi, it focuses on enabling renovation financing through software, but uses a broader lender marketplace rather than a credit-union aggregator model.
- GoodLeap: GoodLeap (formerly Loanpal) is the largest U.S. point-of-sale home improvement lender, financing solar, HVAC, roofing, and renovation projects through contractor channels. It is comparable to RenoFi as a contractor-embedded renovation/home improvement lender at national scale.
- Mosaic: Mosaic is a home improvement financing platform that provides contractors and homeowners with loan products funded by institutional capital. It overlaps directly with RenoFi's contractor-referral-led, software-driven renovation financing model.
Emerging players
- Foundation: Foundation is an emerging fintech offering renovation and home improvement loans through a technology platform aimed at homeowners. It is comparable as an early-stage, software-led renovation lender targeting a similar equity-light homeowner segment as RenoFi.
- Hometap: Hometap provides home equity investment products letting homeowners access equity without taking on monthly loan payments. It is adjacent to RenoFi's equity-light homeowner segment but uses an investment rather than loan structure.
- Point: Point offers home equity investment products as an alternative to HELOCs and home equity loans, targeting homeowners wanting to unlock equity without monthly payments. It is comparable to RenoFi in serving equity-light homeowners but with a different financial product structure.
Broad incumbents
- Rocket Mortgage: Rocket Mortgage is the largest U.S. mortgage originator with broad home equity, cash-out refinance, and renovation lending products (including FHA 203(k) and HomeStyle). It is a broad incumbent that competes with RenoFi in home equity/renovation financing at national scale.
- Better.com: Better.com is a digital-first mortgage lender offering home purchase, refinance, and home equity products. As a broad incumbent in tech-enabled mortgage lending, it competes with RenoFi for tech-savvy homeowner demand for home equity and renovation financing.
- SoFi: SoFi is a broad consumer fintech offering home equity loans and HELOCs alongside its personal loan and deposit products. It overlaps RenoFi's homeowner lending products but as part of a much wider financial services portfolio rather than a renovation-specialist.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
RenoFi social profiles
Digital presenceRenoFi compliance and trust
Trust signalCompliance1 record
RenoFi financial estimates
Financial estimateRevenue estimate
Valuation estimate
RenoFi leadership team
Management profileNumber of profiles
Profiles6 records
RenoFi funding detail
Funding detailFunding overview
Funding rounds8 records
Investors16 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
RenoFi M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about RenoFi
What does RenoFi do?
RenoFi operates an AI-enabled renovation financing platform that underwrites home renovation loans using the property's projected After-Renovation Value (ARV) rather than its current value. It originates a suite of renovation-specific loan products (Home Equity Loan, Renovation HELOC, Renovation Personal Loan, Cash-Out Refinance) on behalf of partner credit union lenders, and connects homeowners with those lenders through its underwriting technology, concierge advisors, and contractor/realtor referral channels.
Is RenoFi a public or private company?
RenoFi is a private company. It is classified as venture growth investor backed and is currently operating.
When was RenoFi founded?
RenoFi was founded in 2018. It employs 51 to 100 people.
Where is RenoFi based?
RenoFi is headquartered in Philadelphia, United States, in the North America region.
How does RenoFi make money?
Two revenue lines are on record. Renovation Underwriting & Loan Origination Fees are the primary driver. The others are renovation Enablement Platform (B2B Lender Software).
Who are RenoFi's main competitors?
Direct peers on record are Figure Technologies, Hearth, GoodLeap and Mosaic. Emerging players are Foundation, Hometap and Point. Broad incumbents are Rocket Mortgage, Better.com and SoFi.
Does RenoFi have an API?
No public API is recorded for RenoFi.
What industry is RenoFi in?
RenoFi's product category is Home Renovation Financing. Its primary akta.pro industry code is FSALAHAF, Renovation/Remodel-to-Perm Financing (Owner-Occupied), with a secondary code of FSALAAAL, Renovation Mortgage Origination (FHA 203(k), HomeStyle, CHOICERenovation). Its NAICS code is 236118 and its SIC code is 6162.