Rhino

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.

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

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

• Security deposit insurance
• Rental financial technology
• Deposit management platform
• Renters insurance products
• Property management software

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. 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.
2. 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.
3. 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.
4. 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

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core 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

Named customers21 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature3 records

Partnerships

15 partnerships are on record, tiered core and major.

• DeposifycoreStrategic or Co-development Partner · 16 November 2022Rhino 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 AgencycoreTechnology or IntegrationRhino 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.
• YardicoreTechnology or IntegrationRhino 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.
• RealPagecoreTechnology or IntegrationRhino 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 SoftwarecoreTechnology or IntegrationRhino integrates with MRI Software's property management platform, allowing property managers to access Rhino's deposit and insurance products directly within their MRI workflow.
• EntratacoreTechnology or IntegrationRhino integrates with Entrata's property management platform, enabling property managers to offer Rhino's deposit solutions within Entrata's leasing and management workflows.
• Rent ManagercoreTechnology or IntegrationRhino 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 LLCcoreTechnology or IntegrationSTP 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.
• UDRmajorStrategic or Co-development PartnerUDR 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 ResidentialmajorStrategic or Co-development PartnerHighmark 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 LivingmajorStrategic or Co-development PartnerPeak 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 HomesmajorStrategic or Co-development PartnerIvory 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 CompanycoreTechnology or IntegrationOne 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.coreTechnology or IntegrationOne of the admitted carriers that underwrite Rhino's insurance products (NAIC #12831, based in Bedford, TX).
• Technology Insurance CompanycoreTechnology or IntegrationOne 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

Direct 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

• Xx.com/sayrhino
• Facebookfacebook.com/rhinolabsinc
• LinkedInlinkedin.com/company/rhino-labs
• Instagraminstagram.com/sayrhino

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds10 records

Investors18 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rhino