Rhino and Jetty to merge into Clement-led security deposit insurtech

By Michael Loney

Feb 6 - (The Insurer) - Insurtechs Rhino and Jetty have announced they are to merge, with Rhino’s COO Georges Clement to lead the combined company as CEO.

The companies said that the merger is “instantly creating the largest security deposit platform in the US rental housing market”.

They added that the merger will accelerate the ability to grow the security deposit alternative market while expanding its suite of move-in solutions, including cash deposit management, renters insurance, guarantor coverage, and loss of employment insurance.

The combined company will bring together their insurance partners including AmTrust Financial Services and The Fortegra Group, and will add new board members Barry Karfunkel, co-founder of Adir Ventures and former CEO of National General, and James Garvey, founder and former CEO of Self Financial.

The merger unites two companies that serve more than 6 million rental units, and help renters retain over $4bn in move-in costs.

The two companies combined also partner with 47 of the National Multifamily Housing Council's top 100 property owners, including Greystar, Highmark Residential, UDR Apartments, and Morgan Properties.

"Six years ago, renters had no choice but to pay a cash deposit. Rhino and Jetty pioneered this category, creating a new standard for the industry. It's fitting to bring these companies together as security deposit insurance becomes the norm across American rental housing," said Alex Fiance, Rhino chairman and co-CEO of Kairos.

Operating from their New York headquarters, Rhino and Jetty will continue to offer both product suites.

"This merger combines our technological innovations and product strengths to deliver what our partners have consistently requested: a comprehensive suite of solutions that simplifies the entire rental process for both residents and property managers," said Michael Rudoy, co-founder of Jetty.

The companies said that Clement as CEO “will drive the company's mission to make move-in more affordable for millions of renters”.

Ben Lantos, co-founder of Rhino, will serve as a senior advisor to the combined company, while Rudoy will join the company's board of directors.

Lantos, who served as CEO since Rhino was founded in 2017, noted on LinkedIn: “The beginning of 2025 has been a time of unexpected upheaval for me personally – my family and I lost our home and community in the Palisades fire. At the same time, I have come to the view that this is the right time for me to move on from my role as CEO of Rhino.”