Rhino
“Can a security deposit insurance company become the operating layer for all rental deposit and protection workflows across multi-family property management?”
HQNew York, NY, USA
FoundersParaag Sarva, Ben Lantos
IndustryFintech / Insurtech
The story
Rhino launched as a security deposit insurance company, replacing the traditional cash deposit with a low-cost insurance policy for renters. It expanded into renters insurance via a Cover Genius partnership in 2021, positioning itself as a broader 'deposit platform.' The company has since built deep PMS integrations (notably Yardi) to embed deposit management directly into property managers' workflows, pivoting from a pure insurance product to a full-stack rental deposit and protection platform.
Product timeline
2018
Founded as a security deposit insurance platform replacing cash deposits with a low-cost insurance policy for renters.· insurance
2021
Partnered with Cover Genius to launch embedded renters insurance underwritten by Markel, expanding beyond security deposit insurance.· insurance
2021
Launched cash security deposit management services under Rhino Deposit Management Services LLC as a separate non-insurance product.· banking
2023
Launched Yardi leasing integration, enabling property managers to manage deposits and policies without leaving the Yardi PMS.· pivot
2024
Expanded deposit platform to include Security Deposit Insurance, Digital Cash Deposits, Lease Guarantee, and Renters Insurance as distinct products.· insurance
Regulated entities
Insurance Agency License
US (multi-state)
Rhino New York LLC (Rhino Insurance Agency in California)
The stack
Accounting
Accounting gap: minor