Comment on Rhino raises $95M to scale its rental deposit replacing insurance product

Rhino raises $95M to scale its rental deposit replacing insurance product

Rhino today announced that it has raised $95 million, an investment that values the startup at just under $500 million. Tiger Global led the round, an investment that Rhino described as “pre-IPO” to TechCrunch. Rhino provides an insurance product to real estate companies, allowing them to forgo traditional rental deposits from tenants, and offering renters an insurance product that provides similar utility for a regular fee. As part of its funding news, Rhino disclosed that its contracted ARR has scaled quickly in recent years, from $4 million in January 2019 to $60 million in January 2021.

 

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