Safety deposit insurance coverage corporate Rhino has entered right into a definitive settlement to obtain the generation and property of Deposify, a portfolio corporate of Sunriver Ventures, a money deposit assortment and compliance corporate for landlords and belongings managers around the U.S.
A blended providing, set to release imminently after the transaction closes this 12 months, will carry to marketplace the primary end-to-end deposit control and compliance platform to carrier greater than $45 billion in money deposits and safety deposit insurance coverage for 43 million condo properties national throughout all of the condo trade, the corporate stated in a press unlock.
Rhino pioneered safety deposit insurance coverage in 2017 and these days services and products a six million house spouse community. The corporate stated it goals to extend consider and transparency between renters and landlords. To additional advance this undertaking, Rhino could also be launching Credit score+, which is able to supply renters at spouse communities with a method to construct credit score via on-time hire reporting.
Rhino’s new carrier shall be to be had completely to renters via companions that use Rhino’s end-to-end deposit control platform, and shall be without spending a dime to renters and belongings managers.