Rhino
Rhino is a New York-based licensed insurance agency and rental fintech platform offering security deposit insurance, digital cash deposit management, renters insurance, and rent reporting to U.S. property owners, operators, and renters through PMS-integrated workflows.
- Company typePrivate
- Founded2016
- HeadquartersNew York, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Rhino does
Rhino is a New York-based, venture-backed licensed insurance agency that operates a deposit and renter financial services platform purpose-built for the U.S. multifamily rental industry. Founded in 2016 by Paraag Sarva and Bryan Woods, Rhino originated as a security deposit insurance provider, replacing large upfront cash deposits with monthly insurance premiums starting at $4. It has since expanded into a broader suite including digital cash deposit management (Rhino+), renters insurance (in partnership with Lemonade Insurance Agency and Jetty), Loss of Employment Protection, Renter Guarantee, and a free rent reporting service (Credit+). The company serves two primary customer segments: (1) property owners and operators — from individual landlords to institutional multifamily operators such as UDR, Highmark Residential, Invesco Real Estate, and Peak Living — and (2) residential renters who need flexible move-in financial solutions.
Rhino's core technology is an insurance-orchestration and deposit management platform with native integrations into the five dominant U.S. property management systems — Yardi, RealPage, MRI, Entrata, and Rent Manager — allowing enrollment inside existing leasing flows. Underlying insurance products are placed through admitted carriers (National Specialty Insurance Company, State National Insurance Company, Technology Insurance Company) and producers (Rhino New York LLC / Rhino Insurance Agency, STP Insurance Services LLC, Lemonade Insurance Agency). Rhino also operates Rhino Deposit Management Services LLC as a wholly-owned subsidiary for cash deposit handling, holding tenant funds in FDIC-insured escrow.
Rhino's business model is commission-based on insurance premiums and small per-renter fees: recurring monthly premiums of $4–$12+ depending on product, plus a one-time $7.99 service fee for Rhino+. The company reports that 33 of the top 100 landlords and a 6 million home partner network use its platform, with cumulative reach to 1M+ renters and over $2 billion saved by renters versus traditional cash deposits. It claims a ~4 day claims processing window versus an industry norm of ~60 days, and reports up to 50% faster leasing velocity and ~40%+ increase in leasing velocity for partner properties. The company generates revenue without charging property managers, monetizing instead via per-policy commissions and renter-paid fees.
Rhino firmographics
Firmographics- Name
- Rhino
- Legal name
- Rhino Labs, Inc.
- Website
- https://sayrhino.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Rhino is a New York-based licensed insurance agency and rental fintech platform offering security deposit insurance, digital cash deposit management, renters insurance, and rent reporting to U.S. property owners, operators, and renters through PMS-integrated workflows.
- Ownership category
- akta.pro rank
Rhino industry classification
Industry- Product category
- Rental Insurance Technology (InsurTech)
- akta.pro primary industry
- Revenue Cycle, Payments & Financing (Payments, Subscriptions, BNPL, Claims Support) (HLAMAGAE)
- akta.pro secondary industry
- Veterinary Billing, Payments & Insurance Claims Software (HLAMAMAD)
Keywords
Where Rhino is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Rhino business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Security Deposit Insurance Premiums: Renters pay Rhino a small monthly premium (starting at $4/month) instead of a large upfront cash security deposit. Rhino earns commission on insurance policies placed for the benefit of landlords. Revenue is commission-based, driven by volume of policies sold through partner properties. No additional cost to property managers/landlords.
- Cash Deposit Management Service Fee: A one-time service fee of $7.99 plus applicable tax for cash deposit management services through Rhino+. Covers digital payment facilitation, continuous dashboard access, deposit management, automatic communications, and refund processing. This is a per-transaction fee charged to the tenant.
- Renters Insurance (powered by Lemonade): Renters insurance add-on starting at $12/month, offering $15,000 personal property coverage, $100,000 liability coverage, and $500 medical payments. Rhino bundles this with its security deposit product and earns a marketing/referral fee through its partnership with Lemonade Insurance Agency.
- Loss of Employment Protection Premiums: Loss of Employment Protection starting at $5/month, providing coverage for rent payments and essential living expenses if the renter loses their job involuntarily. Coverage amounts range from $1,000 to $10,000. Placed by STP Insurance Services LLC.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Security Deposit Insurance — Starting price |
| One time/ perpetual license | Pay-as-you-go | Cash Deposit Management Service Fee (Rhino+) |
| Subscription | Monthly | Renters Insurance |
| Subscription | Monthly | Loss of Employment Protection |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Rhino product offering
Product offeringCore offering
Rhino is a licensed insurance agency that provides renters with a low-cost monthly insurance policy as an alternative to paying large upfront cash security deposits, while giving property owners coverage for damages and unpaid rent. The platform also offers digital cash deposit management (Rhino+), loss of employment protection, renters insurance (powered by Lemonade), and renter guarantee services, all integrated with major property management systems. Revenue is generated through insurance commissions and a one-time cash deposit service fee, with no cost to property managers.
Product overview
Rhino is a rental financial technology platform that offers a suite of digital products designed to simplify and modernize the rental move-in process for both renters and property owners. The platform is organized around a core Security Deposit Alternative (insurance-backed deposit replacement) combined with a digital cash deposit management platform (Rhino+), supplemented by three add-on modules: Loss of Employment Protection (rent coverage in case of job loss), Renters Insurance (personal property and liability coverage powered by Lemonade), and Renter Guarantee (guarantor co-signing replacement). A complementary sub-feature called Credit+ provides free rent reporting to credit bureaus. Property owners and managers access all tools through a centralized partner portal that integrates with major PMS platforms including Yardi, RealPage, MRI, Entrata, and Rent Manager.
Differentiator
Problem solved
Functional benefit
Brands
- Rhino+: Digital cash deposit platform enabling renters to pay deposits online via ACH or credit card, with funds held in FDIC-insured escrow accounts and a $7.99 service fee.
- Credit+
- Lemonade (powered by)
Products and services
- Security Deposit Alternative An insurance-backed alternative to traditional cash security deposits that allows renters to pay a small monthly premium (starting at $4/month) instead of a large upfront cash deposit, while providing property owners with coverage for damages or unpaid rent. Pricing is unique to each renter and based on deposit amount, credit score, rental location, and prior claims history.
- Digital Cash Deposits (Rhino+) A digital-first cash deposit management platform enabling renters to pay, track, and receive refunds of their security deposits online through an FDIC-insured escrow account, with a one-time $7.99 service fee plus applicable tax. Provides transparent deposit status throughout the lease and automated digital returns at move-out.
- Loss of Employment Protection Rent protection insurance that covers rent payments and essential living expenses (coverage amounts from $1,000 to $10,000) if the renter loses their job involuntarily, subject to a 90-day waiting period and eligibility requirements. Priced starting at $5/month and placed by STP Insurance Services LLC.
- Renters Insurance Personal property and liability insurance for renters, offered as a bundled add-on to the security deposit alternative. Provides $15,000 personal property coverage, $100,000 liability coverage, and $500 medical payments, starting at $12/month. Underwritten by Lemonade Insurance Agency in most states, with Homesite Group covering Kansas, Kentucky, Minnesota, North Carolina, New Mexico, and Utah.
- Renter Guarantee
Quantifiable outcome
- Renters save over 90% on moving costs compared to traditional cash deposits
- +6 more outcomes
Companies that use Rhino
Customer profileNamed customers21 records
Segments3 records
Ideal customer profiles2 records
Rhino technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature3 records
Rhino partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered core and major.
- DeposifycoreRhino acquired Deposify in November 2022 and launched the first end-to-end deposit management and compliance platform for the rental industry. The acquisition enabled Rhino to expand from security deposit insurance into full deposit management services, aiming to service over $45 billion in deposits for 43 million rental homes in the U.S.
- Lemonade Insurance AgencycoreRhino partners with Lemonade Insurance Agency to offer renters insurance as an add-on to Rhino's security deposit insurance. Rhino + Jetty is a marketing partner of Lemonade Insurance Agency, which underwrites policies in most states (with Homesite Group covering Kansas, Kentucky, Minnesota, North Carolina, New Mexico, and Utah). Claims are submitted through Lemonade's platform with Rhino providing dedicated support.
- YardicoreRhino integrates with Yardi's property management system, allowing seamless data flow between Rhino's deposit platform and Yardi's property management workflows. Renters can enroll within the existing Yardi leasing flow.
- RealPagecoreRhino integrates with RealPage's property management system, enabling property managers using RealPage to offer Rhino's deposit products seamlessly within their existing leasing workflow.
- MRI SoftwarecoreRhino integrates with MRI Software's property management platform, allowing property managers to access Rhino's deposit and insurance products directly within their MRI workflow.
- EntratacoreRhino integrates with Entrata's property management platform, enabling property managers to offer Rhino's deposit solutions within Entrata's leasing and management workflows.
- Rent ManagercoreRhino integrates with Rent Manager's property management system, allowing property managers to access Rhino's deposit and insurance products within their Rent Manager workflow.
- STP Insurance Services LLCcoreSTP Insurance Services LLC is the licensed insurance agency that places Rhino's Loss of Employment Protection insurance. STP acts as the insurance producer while coverage may be underwritten by a nonadmitted, excess/surplus lines carrier.
- UDRmajorUDR is a publicly traded real estate investment trust and a member of Rhino's Housing Innovation Council, working with Rhino on solutions for housing affordability.
- Highmark ResidentialmajorHighmark Residential is a major multifamily operator and member of Rhino's Housing Innovation Council, with Steve Lamberti of Highmark/Starwood serving on the council. Highmark uses Rhino across their portfolio.
- Peak LivingmajorPeak Living is a property management company and member of Rhino's Housing Innovation Council, with President Kelianne Crapo serving on the council. Peak Living has credited Rhino with increasing occupancy on the east coast.
- Ivory HomesmajorIvory Homes (CEO Clark Ivory) is a major homebuilder and member of Rhino's Housing Innovation Council. Clark Ivory won the Ivory Innovations prize recognized on Rhino's website.
- National Specialty Insurance CompanycoreOne of three admitted carriers that underwrite Rhino's insurance products in states where coverage is placed with admitted carriers (NAIC #22608, based in Bedford, TX).
- State National Insurance Company, Inc.coreOne of the admitted carriers that underwrite Rhino's insurance products (NAIC #12831, based in Bedford, TX).
- Technology Insurance CompanycoreOne of the admitted carriers that underwrite Rhino's insurance products in certain states (NAIC #42376, based in Cleveland, OH).
Scale indicators12 records
Recent moves6 records
Expansion highlights6 records
Rhino competitors and assessment
Company assessmentDirect peers
- Leap: Leap provides deposit alternatives and rent reporting products aimed at renters and property managers, overlapping with Rhino's deposit alternative, Renter Guarantee, and Credit+ offerings in the same target segments.
- TheGuarantors: TheGuarantors is a direct competitor offering security deposit alternatives, lease guarantor services, and renter financial products to landlords and renters, overlapping nearly identically with Rhino's core offerings.
- Jetty: Jetty is a direct competitor in deposit alternatives, renters insurance, and lease guarantor products that Rhino acquired in February 2025, formerly a primary head-to-head rival in the same product category.
- Obligo: Obligo offers deposit-free rental solutions enabling renters to skip security deposits through billing, directly competing with Rhino's Security Deposit Alternative and Rhino+ offerings for the same landlord and renter customers.
Broad incumbents
- Assurant: Assurant is a large incumbent insurance provider offering renters insurance and specialty property coverages through partnerships with property managers and the multifamily housing industry, competing broadly in Rhino's product space.
- Lemonade: Lemonade is both a current insurance partner (powering Rhino's renters insurance) and a broader incumbent in renters insurance with its own deposit-adjacent offerings, representing both collaboration and competitive overlap.
Emerging players
- Accept.inc: Accept.inc provides cash deposit replacement solutions where the company pays the deposit on behalf of the renter and the renter pays over time, representing an emerging alternative to insurance-backed deposit products like Rhino's.
- Bilt Rewards: Bilt Rewards is an emerging proptech platform in the rental ecosystem offering rent payment, rewards, and rent reporting services that intersects with Rhino's Credit+ and broader renter engagement offerings.
Others
- Snappt: Snappt provides fraud detection and document verification services to property managers during the application process, an adjacent proptech serving the same landlord/property manager customer base as Rhino.
- Yardi: Yardi is a major property management software platform that Rhino integrates with, representing both a distribution partner and a potential platform risk if Yardi were to develop native deposit alternative functionality.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key highlights7 records
Customer concentration
Rhino social profiles
Digital presenceRhino financial estimates
Financial estimateRevenue estimate
Valuation estimate
Rhino leadership team
Management profileNumber of profiles
Profiles7 records
Rhino subsidiaries and ownership
Company hierarchySubsidiaries2 records
Rhino funding detail
Funding detailFunding overview
Funding rounds10 records
Investors18 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Rhino M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Rhino
What does Rhino do?
Rhino is a licensed insurance agency that provides renters with a low-cost monthly insurance policy as an alternative to paying large upfront cash security deposits, while giving property owners coverage for damages and unpaid rent. The platform also offers digital cash deposit management (Rhino+), loss of employment protection, renters insurance (powered by Lemonade), and renter guarantee services, all integrated with major property management systems. Revenue is generated through insurance commissions and a one-time cash deposit service fee, with no cost to property managers.
Is Rhino a public or private company?
Rhino is a private company. It is classified as venture growth investor backed and is currently operating.
When was Rhino founded?
Rhino was founded in 2016. It employs 101 to 250 people.
Where is Rhino based?
Rhino is headquartered in New York, United States, in the North America region.
How does Rhino make money?
Four revenue lines are on record. Security Deposit Insurance Premiums are the primary driver. The others are cash Deposit Management Service Fee, renters Insurance (powered by Lemonade) and loss of Employment Protection Premiums.
Who are Rhino's main competitors?
Direct peers on record are Leap, TheGuarantors, Jetty and Obligo. Broad incumbents are Assurant and Lemonade. Emerging players are Accept.inc and Bilt Rewards. Others are Snappt and Yardi.
Does Rhino have an API?
No public API is recorded for Rhino.
What industry is Rhino in?
Rhino's product category is Rental Insurance Technology (InsurTech). Its primary akta.pro industry code is HLAMAGAE, Revenue Cycle, Payments & Financing (Payments, Subscriptions, BNPL, Claims Support), with a secondary code of HLAMAMAD, Veterinary Billing, Payments & Insurance Claims Software.