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Renofi

“Can a licensed mortgage broker platform become the definitive distribution and technology layer for renovation home equity lending through US credit unions?”

Founded2018
HQBerwyn (Philadelphia), PA, USA
FoundersJustin Goldman, Robert Shedd, Lee Miller
Total raised$65M
Latest roundSeries B, 2026
IndustryFintech / Lending
The story

Founded in 2018 as a marketplace connecting homeowners to renovation-specific financing products, RenoFi built its differentiation around underwriting home equity loans and HELOCs against After Renovation Value — unlocking larger borrowing capacity for renovation projects. Rather than becoming a lender itself, RenoFi operates as a licensed mortgage broker and technology platform that partners with credit unions to originate loans under the RenoFi brand. By 2026 the platform had facilitated over $1.5B in funded loans and began leaning into AI tooling, positioning itself as a credit union distribution and renovation lending OS.

Last 12 months
2026-03
Product timeline
2018
Founded by Justin Goldman, Robert Shedd, and Lee Miller after Goldman's personal frustration securing renovation financing in 2017.· pivot
2018
Launched RenoFi Home Equity Loan — the first renovation loan product underwritten against After Renovation Value (ARV) rather than current appraised value.· lending
2021
Launched RenoFi HELOC, expanding the product suite to include a revolving renovation home equity line of credit.· lending
2026
Closed $22M Series B led by Fifth Wall; platform surpassed $1.5B in funded loans and announced AI-enabled renovation financing capabilities.· lending
Regulated entities
1
regulatory licence held by Renofi
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in Renofi’s embedded-finance stack
Lending
RenoFi Home Equity LoanRenoFi HELOC (Renovation HELOC based on After Renovation Value)
Accounting gap: none