Whale modernizes the traditional rental security-deposit system by allowing renters to keep their deposits in individually owned, high-yield, FDIC-insured savings accounts that landlords can access if needed. Operated as a Registered Investment Advisor regulated by the SEC, the platform offers yields up to seven times the national average and full transparency for residents. For property owners and managers, Whale eliminates the compliance, accounting, and administrative load associated with collecting, holding, and returning deposits, integrating seamlessly into existing leasing workflows. The company already supports more than 500,000 multifamily units across institutional operators such as Mill Creek, Berkshire Residential, Cardinal Group, Rudin, and Urby. Whale targets the estimated $60 billion pool of largely idle U.S. security-deposit capital, positioning these funds as a pathway to financial wellness for America’s 44 million renter households. Led by founder and CEO Jamie Petraglia, a 25-year finance and real-estate veteran, Whale aims to scale nationally by partnering with additional operators and expanding its renter-focused financial tools. The firm promotes a “win-win” model in which landlords remain fully protected while renters build savings and credit. No revenue figures were disclosed, but the rapid adoption across half a million units underscores early traction and market demand.

Total raised

$4M

Funding rounds

1

Latest round

Seed

Latest activity

Jan 2026