Rhino's New Deposit Management Platform Launches in Over 500,000 Rental Units

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Jun 18, 2024, 09:16 ET

'Rhino Integrated' expands move-in product suite, making all products available to renters and property managers under one embedded experience

NEW YORK, June 18, 2024 /PRNewswire/ -- Rhino, the pioneer of security deposit insurance, today announces that the company has secured 500,000 committed units to Rhino Integrated, its new user experience offering deposit insurance, cash deposit management, renters' insurance, rent reporting and guarantor coverage, all within one seamless platform. Now servicing a six million-home partner network, the Rhino Integrated platform marks a substantial growth milestone for the company, enabling Rhino to broaden its reach and impact by integrating directly into partners' existing digital leasing processes.

Through Rhino's new platform, millions of renters at properties across the country will now have access to a seamless digital experience to satisfy their move-in requirements, helping to maximize their cash flow and minimize the pains of moving. Simultaneously, landlords and property managers will be able to reduce friction in the moving process, a demand that Rhino continues to address through new product innovation.

"In communicating with our partners, we realized quickly that they need to configure and consolidate the move-in process to deliver a best-in-class rental experience," said Georges Clement, COO at Rhino. "We've given our partners the ability to offer deposit insurance, cash deposit management, renters' insurance, rent reporting, and guarantor coverage through one platform. This highlights our commitment to provide flexible financial solutions to renters across the country."

"This is an incredible milestone for Rhino," adds Rhino CEO and Co-Founder Ben Lantos. "Reaching 500,000 units and growing on our newest platform is exciting for our customers and our team. We achieved this through our investment in product and experience, aligning with our partner's commitment to their residents, and ensuring renters have access to as many options as possible without a cumbersome customer experience."

Since 2017, Rhino's innovations have saved renters over $1 billion in upfront move-in costs and helped drive down operational costs for over 2,500 landlords and property managers, a network managing six million rental homes and over 14% of the U.S. rental market.

To learn more about Rhino's solutions for renters, landlords, and property managers, visit sayrhino.com.

About Rhino
Rhino was founded to give renters everywhere access to greater financial freedom to plan and enjoy their lives. In 2017, backed by Kairos, Rhino pioneered the first security deposit insurance, replacing cash deposits with smart, affordable insurance so that renters can maintain control of their cash. In place of a large upfront cash security deposit, renters pay Rhino a small fee, and Rhino ensures the property owner for damages that might occur and rent lost. In 2024, Rhino launched end-to-end deposit management, transforming how security deposits and other insurance solutions are administered.

SOURCE Rhino