# Renew Financial

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/renew-financial

- Industry: Financial Services
- Headquarters: Oakland, US
- Website: www.renewfinancial.com
- Total disclosed funding: $116M
- Latest round: Series D (Feb 11, 2016)
- Investors on record: 9

## About

Renew Financial LLC, based in the US, provides innovative Property Assessed Clean Energy (PACE) financing solutions enabling homeowners to implement energy-efficient and safety upgrades without upfront costs.Founded in 2008 and headquartered in Oakland, US, Renew Financial LLC focuses on offering financing solutions that empower homeowners to make energy-efficient home improvements. The company has undergone strategic developments, including a significant funding round in August 2017, where it raised USD 300 mn in VENTURE DEBT from investors such as Barclays Bank and Morgan Stanley Investment Management. The total amount raised by the company now stands at USD 70 mn. Mark Floyd serves as the CEO of the company.Renew Financial specializes in offering Property Assessed Clean Energy (PACE) financing solutions, assisting homeowners in financing energy-efficient upgrades such as solar panel installations, HVAC systems, and disaster protection enhancements without upfront costs. This financing is repaid through property tax assessments, simplifying the payment process and providing access to trusted contractors, primarily in California and Florida.Renew Financial generates revenue by structuring PACE financing arrangements linked to homeowners' property taxes. It facilitates the financing for various home improvement projects, covering costs up to USD 250,000 per project with fixed rates and flexible repayment terms, allowing homeowners to secure funding while promoting sustainable living.Following the recent funding in August 2017, which raised USD 300 mn, Renew Financial plans to enhance its product offerings and expand its reach into new geographic markets. The company is focusing on developing new financing products tailored to the evolving needs of consumers and aims to enter additional states by the end of 2025, leveraging the recent funding to support these initiatives.

## Funding rounds

- Series D, Feb 11, 2016, $70M — NGEN Partners, Apollo Capital Partners, Claremont Creek Ventures, Angeleno Group, Prelude Ventures, LL Funds, Inc.
- Series C, Dec 19, 2014, $14M — NGEN Partners, Apollo, Claremont Creek Ventures, Angeleno Group, Prelude Ventures
- Series B, Apr 24, 2014, $20M — NGEN Partners, Apollo, Claremont Creek Ventures, Angeleno Group, Prelude Ventures
- Series A, Oct 29, 2009, $12M — Draper Fisher Jurvetson, NGEN Partners, New Cycle Capital

## Investors

- Draper Fisher Jurvetson (https://capitalatlas.ai/funds/draper-fisher-jurvetson) — Series A
- NGEN Partners (https://capitalatlas.ai/funds/ngen-partners) — Series A, Series B, Series C, Series D
- New Cycle Capital (https://capitalatlas.ai/funds/new-cycle-capital) — Series A
- Apollo (https://capitalatlas.ai/funds/apollo) — Series B, Series C
- Claremont Creek Ventures (https://capitalatlas.ai/funds/claremont-creek-ventures) — Series B, Series C, Series D
- Angeleno Group (https://capitalatlas.ai/funds/angeleno-group) — Series B, Series C, Series D
- Prelude Ventures — Series B, Series C, Series D
- Apollo Capital Partners (https://capitalatlas.ai/funds/apollo-capital-partners) — Series D
- LL Funds, Inc. — Series D