Rhino

Rhino

Offers insurance-based security deposit alternatives

About Rhino

Simplify's Rating
Why Rhino is rated
D+
Rated D- on Competitive Edge
Rated C on Growth Potential
Rated D+ on Rating Differentiation

Industries

Fintech

Real Estate

Company Size

201-500

Company Stage

Late Stage VC

Total Funding

$162.9M

Headquarters

New York City, New York

Founded

2017

Overview

Rhino provides an alternative to traditional security deposits in the rental market by allowing renters to pay a small monthly fee for an insurance policy that covers potential damages and unpaid rent. This model makes moving more affordable for renters and helps landlords protect their properties without requiring large upfront deposits. Unlike traditional methods, Rhino attracts a wider range of tenants and operates as a licensed insurance agency in several states. The goal is to simplify the rental process and make it financially manageable for both renters and landlords.

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Simplify's Take

What believers are saying

  • Increased adoption of digital payment solutions benefits Rhino's streamlined processes.
  • Growing demand for flexible payment options aligns with Rhino's business model.
  • AI integration in property management enhances Rhino's risk assessment capabilities.

What critics are saying

  • Merger with Jetty may lead to integration challenges and service disruptions.
  • Rhino+ platform faces potential cybersecurity threats handling sensitive financial data.
  • CEO departure could lead to leadership instability and strategic shifts.

What makes Rhino unique

  • Rhino offers an alternative to traditional security deposits with insurance-based solutions.
  • The company provides a digital platform, Rhino+, for seamless deposit management.
  • Rhino's merger with Jetty creates the largest security deposit insurance platform in the U.S.

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Funding

Total Funding

$162.9M

Above

Industry Average

Funded Over

4 Rounds

Notable Investors:
Late VC funding comparison data is currently unavailable. We're working to provide this information soon!
Late VC Funding Comparison
Coming Soon

Growth & Insights and Company News

Headcount

6 month growth

-5%

1 year growth

-3%

2 year growth

-2%
InsurTech News
Feb 10th, 2025
Rhino and Jetty Merge to Create the Largest Security Deposit Insurance Company in the Market

Rhino and Jetty, the two pioneers of security deposit insurance, announced their merger today, instantly creating the largest security deposit platform in the U.S.…

Coverage
Feb 6th, 2025
Rhino And Jetty Merge

Rhino <i class="fa fa-info-circle company-popover" data-content="h3Rhino/h3. div. table

Coverage
Dec 12th, 2024
Rhino To Offer Loss Of Employment Protection

Rhino, <i class="fa fa-info-circle company-popover" data-content="h3Rhino/h3. div. table

CAD Software Direct
Sep 16th, 2024
Rhino User Webinar: Advancing Computational Design Workflows at MORPH

McNeel Europe (the team behind Rhino) are partnering with MORPH to bring you Advancing Computational Design Workflows at MORPH.

FF News
Jul 31st, 2023
Omega Realty Group Selects Rhino+ To Modernize Security Deposit Process

Rhino, which pioneered security deposit insurance in 2017 and services a six-million-home partner network, today announced that Omega Realty Group is using the new Rhino+ platform to manage security deposits for renters.Rhino+ is the rental industry’s first digital deposit platform that simplifies and modernizes the security deposit process, making renting easier, transparent and affordable.“Rhino has been a trusted partner for over three years, helping protect our thousands of rental units with security deposit insurance. With Rhino+, we now offer our renters the choice to use cash or insurance as part of their move-in experience,” said John Ashley, Omega Realty Group. “We look forward to continuing our partnership with Rhino and delivering a digital experience to our residents, allowing them to move in seamlessly while protecting our assets.”Leasing teams typically deal with physical deposit checks that must be brought to the bank and held in an escrow account. Property owners often have to track these payments in software platforms coded in the 80s that can’t always be used on personal computers. Cash sits in escrow, inaccessible until the end of the lease. The process is required for every unit, taking up to 20 hours per month.“Rhino+ alleviates the headache of the traditional security process by giving owners and renters choices,” said Ben Lantos, Rhino’s CEO and co-founder

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