Real Estate Startup Rhino Secures $1.9 Million

Rhino announced the close of $1.9 million in seed financing, led by ff Venture Capital. FJ Labs, Lakehouse Ventures, and Picus Capital also participated in the offering.

Rhino is a real estate technology company that aims to replace security deposits with a smarter alternative that the company argues is better for both renters and landlords. Renters pay a small monthly fee instead of a large security deposit, while landlords receive more long-term security. Rhino is a licensed insurance producer and broker backed by Canopius US Insurance, a leading global property and casualty insurer rated A- by A.M. Best.

According to the company, Rhino will use the seed capital to hire new talent, continue building its core technology, and implement a targeted marketing strategy for the New York City market.