COMPANY PROFILE

Rhino

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Offers a smart alternative to security deposits

New York City, United StatesFounded 2017Fintech

Valuation $500M–1B Last recorded · 2021

Revenue $10–50M Latest reported FY

Headcount 100–500 Current team size

Total funding $100–500M Disclosed equity funding

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About Rhino

Rhino is a forward-thinking startup revolutionizing the rental market by offering an alternative to traditional security deposits. Operating primarily in the United States, Rhino serves both renters and landlords. For renters, Rhino provides a way to move into new homes without the burden of paying large upfront security deposits. Instead, renters pay a small monthly fee for an insurance policy that covers potential damages and unpaid rent. This model makes moving more accessible and affordable for renters, freeing up billions of dollars that would otherwise be tied up in escrow accounts.

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For landlords, Rhino offers a reliable insurance solution that protects their properties against excessive damage and unpaid rent. This insurance is underwritten by Rhino and provides landlords with the same level of security as a traditional cash deposit. By accepting Rhino, landlords can attract a larger pool of prospective tenants who might otherwise be deterred by hefty deposit requirements.

Rhino operates as a licensed insurance agency in various states, including New York and California. The company generates revenue by receiving compensation from insurers based on the insurance policies it places for the benefit of landlords and their tenants. This compensation model ensures that Rhino remains a trusted intermediary, providing valuable services to both parties in the rental market.

In summary, Rhino's innovative approach to rental security deposits benefits both renters and landlords by making the rental process more accessible and financially manageable. By unlocking funds that would otherwise be tied up in security deposits, Rhino is contributing to a more dynamic and fluid economy.

Source: Dealroom company data