INSUBCONTINENT EXCLUSIVE:
Rhino, the insurtech startup incubated by Kairos and co-founded by Kairos CEO Ankur Jain, has today announced the close of a $21 million
Series A round led by Kairos and Lakestar.Rhino was founded in 2017 with the goal of getting back to renters the billions of dollars that
are locked up in cash security deposits, all while protecting landlords and their property
interest, which results in billions of dollars zapped out of the economy and instead sitting dead in some account.Rhino is looking to give
renters the option to pay a small monthly fee (as low as $3) to cover an insurance policy for the landlord
Rhino is itself a managing general agent, allowing the company to both sell and create policy plans for landlords through partnerships with
carriers.Thus far the startup has saved renters upwards of $60 million in 2019, with users in more than 300,000 rental units across the
funding announcement, the company is announcing its new policy proposal that was created in collaboration with federal, state and local
The policy essentially allows for renters to be given a choice when it comes to cash deposits, including allowing residents to cover
security deposits in installments or use insurtech products like Rhino to cover deposits.Rhino says it will be sharing the policy proposal
with 2020 presidential candidates on both sides of the aisle.Rhino is one of a handful of companies that has been incubated by Kairos, a
startup studio led by Ankur Jain with the goal of solving the biggest problems faced by everyday Americans
The studio focuses on housing and healthcare, with companies such as Rhino, June Homes, Little Spoon, Cera and a couple of startups still in
