Renovation financing startup RenoFi raised $14 million in Series A funding led by Canaan, with Nyca Partners and CMFG Ventures participating. Why it matters: The company aims to make the surging demand for home improvements affordable by providing financing to its customers. Context: The renovation market is being driven by a combination of aging housing stock, record low inventory, and the COVID-19 pandemic making many homes into hybrid workstations for homeowners. Add in supply chain shocks and high labor demands and those who wish to do renovations are being struck by sticker shock when they get a quote from a general contractor. How it works: RenoFi offers loan origination and…