Rhino, a startup that specializes in deposit insurance, has more than tripled its valuation to $500 million after raising $95 million in an investment round led by
The New York-based company, founded in 2017, aims to tackle housing affordability by making insurance an alternative to traditional security deposits, in which Americans collectively have roughly $45 billion sitting idle, according to Rhino estimates.
“Security-deposit insurance is still in its early days, but we believe it will become an increasingly popular product for renters,”
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