The round was led by Fifth Wall-the largest asset manager investing at the intersection of real estate and technology-with meaningful participation from Progressive Insurance and other new investors. Investment in RenoFi from Fifth Wall and Progressive Insurance underscores the growing need from homeowners to find renovation-specific financing solutions. This funding brings RenoFi's total capital raised to date to $65M.

The round also drew support from HighSage Ventures, Alumni Ventures, Flintlock Capital and Gaingels, with continued participation from existing backers Canaan, First Round Capital, Curql, TruStage Ventures, and a growing network of credit union partners including Ardent Credit Union, Chartway Credit Union, First Community Credit Union, and USALLIANCE Financial. Together, this diverse group of venture, corporate, and credit union investors reflects conviction and broad market validation of RenoFi's model.

RenoFi is the AI-enabled renovation financing platform empowering every homeowner to be a renovator. Headquartered in Philadelphia and founded in 2018, RenoFi created the world's first Renovation Home Equity Line of Credit (HELOC), a one-of-a-kind solution that uses a home's After-Renovation Value (ARV)-not just its current value-to unlock dramatically more borrowing power. By leveraging its proprietary Renovation Underwriting technology platform, RenoFi enables lenders, embedded partners and consumers alike to finance major home renovations. Partnering with trusted credit unions and lenders nationwide, RenoFi offers a full suite of renovation loan products at competitive rates, serving homeowners in 48 states. To date, RenoFi has helped finance over $2B in renovations, enabling equity-light homeowners to access 11x more funds on average without refinancing their existing mortgage.