Location: New York, NY
Founders: Ben Lantos, Paraag Sarva, Bryan Woods
Invested: Pre-Seed, May 2017
More than $190 billion is tied up in security deposits in the United States. At the same time, close to 60% of Americans have less than $1,000 in savings. Rhino was created with the mission to put some of that money back into consumers' pockets through a product that eliminates upfront security deposits replaces them with afforadable monthly payments. For landlords, Rhino can help fill vacancies faster, save administrative costs and provide coverage for up to 2x the value of a traditional security deposit.
Led by a team of real estate owners, engineers and insurance experts, Rhino launched in New York City in August 2017. Since then, Rhino has expanded nationally and is currently offered in over 1 million rental units across the United States. We met Rhino Co-Founders Paraag Sarva, Ben Lantos and Bryan Woods as they were starting to build their product in early 2017. Rhino was the third investment made by Lakehouse.