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

by RJ Shara | Jan 26, 2021 | Fundings and Exit, Startups

Rhino today announced that it has actually raised $95 million, an investment that values the start-up at just under $500 million. Tiger Global led the round, a financial investment that Rhino referred to as “pre-IPO” to TechCrunch. Rhino offers an insurance product to property business, enabling them to give up traditional rental deposits from renters, and offering renters […] As part of its financing news, Rhino disclosed that its contracted ARR has actually scaled quickly in recent years, from $4 million in January 2019 to $60 million in January 2021. Jain explained Rhino as something that can assist property owners and tenants by reducing the barrier to renting an unit, therefore expanding the potential client pool. Offered how we have actually seen some high-growth insurance items publish histories of negative contribution margins, Rhino appears to be in great health. …