Renew Financial
Renew Financial is a residential Property Assessed Clean Energy (PACE) financing provider serving homeowners in California and Florida, financing energy efficiency, hurricane protection, seismic, and resilience upgrades repaid through property tax assessments over 5 to 30 years.
- Company typePrivate
- Founded2005
- HeadquartersOakland, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Renew Financial does
Renew Financial Group LLC is a residential Property Assessed Clean Energy (PACE) financing provider headquartered in Oakland, California, operating across California and Florida under two consumer-facing programs: CaliforniaFIRST and RenewPACE. The company finances home improvement projects including solar panels, HVAC, roofing, windows and doors, water-efficient landscaping, hurricane protection, seismic retrofits, and (as of March 2026) flood and water damage mitigation. Financing is structured as a special assessment on the homeowner's property tax bill, repaid over 5 to 30 years with no FICO requirements, 100% financing up to $250,000, and fixed rates; qualification is based on property equity, tax payment history, and income rather than credit scores.
The underlying platform is a PACE program administrator with regulatory licenses from the California Department of Financial Protection and Innovation (PACE Program Administrator License #60DBO-90653), DFPI Finance Lender licenses held through subsidiary Renew Financial I LLC, and NMLS registrations across three entities. Operationally, Renew Financial acquires customers through a direct-to-consumer digital self-serve application, a U.S.-based customer care center, a vetted registered contractor network, and community/municipal relationships; the contractor channel requires PACE-specific certification and is a key mid-funnel referral pathway.
The business model generates revenue from the net interest spread between cost of capital (warehouse lines, securitizations, forward flow agreements) and interest charged to homeowners on PACE assessments, supplemented by transaction and program administration fees. Capital is sourced and recycled through $245M in revolving credit facilities (Nomura, ING Capital, LL Funds, October 2023), a $159.2M securitization (October 2024), and a $175M forward flow agreement with 26North Partners (June 2025). The company has funded more than $2 billion in PACE projects cumulatively, with reported environmental impact of roughly 2 million metric tons of greenhouse gas reductions and 2.7 billion gallons of water saved.
Renew Financial firmographics
Firmographics- Name
- Renew Financial
- Legal name
- Renew Financial Group LLC
- Website
- https://renewfinancial.com
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Renew Financial is a residential Property Assessed Clean Energy (PACE) financing provider serving homeowners in California and Florida, financing energy efficiency, hurricane protection, seismic, and resilience upgrades repaid through property tax assessments over 5 to 30 years.
- Ownership category
- akta.pro rank
Renew Financial industry classification
Industry- Product category
- Residential PACE Financing
- SIC
- Mortgage Bankers & Loan Correspondents (6162)
- akta.pro primary industry
- Energy Efficiency & Green Retrofit Financing (FSALAHAK)
- akta.pro secondary industries
- Renovation/Remodel-to-Perm Financing (Owner-Occupied) (FSALAHAF), Renovation Mortgage Origination (FHA 203(k), HomeStyle, CHOICERenovation) (FSALAAAL)
Keywords
Where Renew Financial is headquartered
LocationHeadquarters
- HQ city
- Oakland
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Renew Financial business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales, Others
Revenue model
- PACE Assessment Financing: Renew Financial generates revenue through financing home improvement projects via the PACE program. Homeowners receive 100% financing for qualifying projects (energy efficiency, water conservation, hurricane preparedness, seismic upgrades) and repay the cost through a special assessment added to their property tax bill over 5-30 years. The company earns interest on the financed amounts and collects fees from program administration. Revenue is derived from the spread between cost of capital (warehouse lines, securitizations) and the interest charged to homeowners on PACE assessments.
- Securitization and Capital Markets: Renew Financial periodically securitizes pools of PACE loans (e.g., $159.2 million securitization in October 2024, Renew 2023-1 securitization closed August 2023) to generate liquidity and recycle capital for new lending. They also maintain revolving credit facilities with institutional investors to fund ongoing loan originations.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Annual | Standard PACE Financing |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
Renew Financial product offering
Product offeringCore offering
Renew Financial provides residential Property Assessed Clean Energy (PACE) financing that allows homeowners in California and Florida to fund 100% of qualifying home improvements — including solar, HVAC, roofing, windows/doors, water-efficient landscaping, hurricane protection, and seismic retrofits — with no money down and no FICO credit score requirements. Repayment is made through a special assessment on the homeowner's property tax bill over flexible 5-30 year terms, with funding amounts up to $250,000. The company operates under the CaliforniaFIRST brand in California and the RenewPACE brand in Florida.
Product overview
Renew Financial is a residential Property Assessed Clean Energy (PACE) financing provider operating as a single unified platform in California (under the CaliforniaFIRST brand) and Florida (under the RenewPACE brand). The core product is PACE financing that allows homeowners to finance 100% of qualifying home improvement projects with no money down, repaying through property tax assessments over 5-30 years. The portfolio includes financing for solar panels, windows and doors, HVAC systems, roofing, water-efficient landscaping, hurricane protection, earthquake/seismic retrofit, and water heaters. All offerings share the same PACE financing infrastructure with features like no FICO requirements, fixed rates, and flexible repayment terms.
Differentiator
Problem solved
Functional benefit
Products and services
- CaliforniaFIRST Property Assessed Clean Energy (PACE) financing program offered to California homeowners to fund qualifying energy, water, and safety home improvements, with repayment through a special assessment added to the homeowner's property tax bill. Financing up to $250,000 with no money down, no FICO requirement, fixed rates, and terms up to 30 years.
- RenewPACE Property Assessed Clean Energy (PACE) financing program offered to Florida homeowners to fund qualifying energy efficiency, renewable energy, hurricane protection, and resiliency upgrades, repaid on property taxes over 5-20 years. Financing up to $250,000 with no money down, no FICO requirement, and fixed rates.
Quantifiable outcome
- Greenhouse gas reductions of nearly 1.5 million to 2 million metric tons (equivalent to removing 300,000-416,000 cars from the road)
- +3 more outcomes
Companies that use Renew Financial
Customer profileSegments1 record
Ideal customer profiles1 record
Renew Financial technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Renew Financial partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Broward County Water Matters DayminorRenew Financial sponsors Broward County Water Matters Day, one of Broward County's largest environmental initiatives, for the third consecutive year. The event offers educational exhibits and resources to help residents learn water conservation practices.
Scale indicators7 records
Recent moves9 records
Expansion highlights4 records
Renew Financial competitors and assessment
Company assessmentDirect peers
- Ygrene Energy Fund: Ygrene is one of the largest residential and commercial PACE financing providers in the U.S., directly competing with Renew Financial in California and Florida through similar property-tax-assessment-based origination models and contractor channel strategies.
- GoodLeap (formerly Loanpal): GoodLeap is a major point-of-sale residential solar and home improvement financing platform and a significant PACE participant, directly comparable in funding scale, contractor channel, and consumer credit underwriting to Renew Financial.
- Dividend Finance: Dividend Finance is a residential and commercial PACE and renewable energy lender operating across multiple states with similar securitization practices and contractor distribution—directly comparable to Renew Financial's product set.
- Sunlight Financial: Sunlight Financial provides residential solar and home improvement financing through a contractor-driven channel and securitizes loans in ABS markets—closely paralleling Renew Financial's GTM and capital structure.
- HomeIQ (Petros PACE Finance affiliate): Petros PACE Finance offers residential PACE financing in multiple states with similar property-tax-based underwriting and contractor channel dynamics, making it a direct competitor in adjacent geographies.
- Mosaic: Mosaic is a residential solar and home improvement loan originator with securitization-backed funding, comparable to Renew Financial in target customer, contractor channel, and capital structure despite different state footprint.
Broad incumbents
- EnerBank USA (CMS Energy subsidiary): EnerBank is one of the largest home improvement point-of-sale lenders in the U.S. with similar unsecured home improvement loan products and contractor channel distribution, operating at much larger scale as part of CMS Energy.
- GreenSky (Goldman Sachs): GreenSky provides point-of-sale home improvement financing through a large contractor network and was acquired by Goldman Sachs. It is a broader incumbent offering credit-based financing, a partial alternative to PACE.
- LightStream (Truist): LightStream offers unsecured home improvement loans online as part of Truist; it competes for the same homeowner use cases but requires strong credit, making it an adjacent incumbent rather than a direct PACE peer.
Emerging players
- Figg Capital Partners: Figg Capital is a specialty finance and advisory firm active in PACE and clean energy asset markets, providing capital markets support and structuring to PACE programs comparable in focus to Renew Financial's securitization activities.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks1 record
Key highlights7 records
Customer concentration
Renew Financial social profiles
Digital presenceRenew Financial compliance and trust
Trust signalCompliance5 records
Renew Financial financial estimates
Financial estimateRevenue estimate
Valuation estimate
Renew Financial leadership team
Management profileNumber of profiles
Profiles9 records
Renew Financial subsidiaries and ownership
Company hierarchySubsidiaries2 records
Renew Financial funding detail
Funding detailFunding overview
Funding rounds6 records
Investors12 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Renew Financial M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Renew Financial
What does Renew Financial do?
Renew Financial provides residential Property Assessed Clean Energy (PACE) financing that allows homeowners in California and Florida to fund 100% of qualifying home improvements — including solar, HVAC, roofing, windows/doors, water-efficient landscaping, hurricane protection, and seismic retrofits — with no money down and no FICO credit score requirements. Repayment is made through a special assessment on the homeowner's property tax bill over flexible 5-30 year terms, with funding amounts up to $250,000. The company operates under the CaliforniaFIRST brand in California and the RenewPACE brand in Florida.
Is Renew Financial a public or private company?
Renew Financial is a private company. It is classified as venture growth investor backed and is currently operating.
When was Renew Financial founded?
Renew Financial was founded in 2005. It employs 101 to 250 people.
Where is Renew Financial based?
Renew Financial is headquartered in Oakland, United States, in the North America region.
How does Renew Financial make money?
Two revenue lines are on record. PACE Assessment Financing is the primary driver. The others are securitization and Capital Markets.
Who are Renew Financial's main competitors?
Direct peers on record are Ygrene Energy Fund, GoodLeap (formerly Loanpal), Dividend Finance, Sunlight Financial, HomeIQ (Petros PACE Finance affiliate) and Mosaic. Broad incumbents are EnerBank USA (CMS Energy subsidiary), GreenSky (Goldman Sachs) and LightStream (Truist). Figg Capital Partners is listed as an emerging player.
Does Renew Financial have an API?
No public API is recorded for Renew Financial.
What industry is Renew Financial in?
Renew Financial's product category is Residential PACE Financing. Its primary akta.pro industry code is FSALAHAK, Energy Efficiency & Green Retrofit Financing, with a secondary code of FSALAHAF, Renovation/Remodel-to-Perm Financing (Owner-Occupied). Its SIC code is 6162.