Rhino Raises USD$ 2.6M round led by TMT Investments and AngelDecks for fleet expansion

Rhino, Brazil’s first urban mobility app featuring armored cars and professional drivers, has secured an additional investment of approximately $2.6 million USD (R$ 15 million). The funding round was led by TMT Investments and AngelsDeck, both based in Dubai, with participation from returning investors.

With this new round, Rhino’s total capital raised since its launch in 2022 now amounts to around $7 million USD (R$ 40 million). Founded by Daniil Sergunin (former vice president of EuroChem and board member at Heringer) and Alexander Karbankov (former Tinkoff executive), the company already serves more than 300,000 users across Greater São Paulo, its current area of operation.

Funding to Boost Expansion and Market Presence

According to CEO Daniil Sergunin, Rhino declined an offer from a European fund to maintain favorable investment terms negotiated with the Dubai-led group. The new capital will be used to expand the team, strengthen marketing efforts, and grow the company’s armored fleet.

“The demand for secure and comfortable mobility solutions is growing rapidly in Brazil,” said Sergunin. “Armored transportation, once a luxury for few, is becoming more accessible, and Rhino was created precisely to democratize that access.”

Accelerated Growth and a Strong Corporate Focus

In the past 12 months, Rhino has tripled its fleet of armored SUVs and seen its active customer base grow by 340%, resulting in a 700% increase in total revenue compared to the previous year.

Beyond the consumer market (B2C), the company is also gaining traction in the corporate segment with Rhino for Business, a premium, secure transportation solution for companies operating on a pay-per-use model. The service helps clients reduce fixed costs while maintaining flexibility.

Among the businesses already using Rhino for Business are Mitsubishi, RedeTV, Payface, Pepsico, Flytour, and Revo.

“Rhino for Business is one of our main growth drivers and is expected to represent 50% of our revenue in the medium term,” Sergunin noted.

Redefining Urban Mobility in Brazil

Rhino’s fleet is composed of hybrid armored SUVs, including models like the BYD Song Plus, all operated and maintained by the company itself. Rhino oversees every aspect of fleet management, from maintenance and cleaning to refueling and daily charging.

The startup also upholds a strict driver selection process, which includes in-person interviews, psychological evaluations, and training through the Rhino Academy, a proprietary program designed to standardize service quality and reinforce safety standards.

On the tech side, one of Rhino’s standout features is its instant dispatch system, which connects drivers and passengers within seconds, significantly reducing wait times and eliminating ride cancellations.

“Our goal is to redefine mobility in Brazil by combining a next-generation fleet, highly trained drivers, and proprietary technology,” said Sergunin. “We aim to deliver a trusted and secure experience in every detail.”

São Paulo Leads Growth in Armored Mobility

Currently, Rhino operates in Greater São Paulo, a region that leads Brazil’s growing demand for armored vehicles. According to the Brazilian Armor Association (Abrablin), the sector recorded an 11.5% increase in the first half of 2025 compared to the same period the previous year, a trend that supports Rhino’s expansion strategy and validates its mission to make secure mobility more accessible across the country.