Digital Security Deposit Platform Whale Raises $4 Million Seed Round Led by Camber Creek

Fintech company targets more than $60 billion in essentially frozen rental security deposits

CHICAGO, IL - Whale, a fintech company reinventing how rental security deposits are managed, today announced the close of a $4 million seed funding round led by real estate technology venture capital firm Camber Creek, with participation from Stackpoint Ventures and Varro Capital.

Already trusted across more than half a million multifamily units nationwide, Whale is used by institutional owners and operators, including Mill Creek, Berkshire Residential, Cardinal Group, Rudin, and Urby, among others. Backed by some of the most respected names in real estate, the platform is rapidly scaling as operators seek to modernize deposit handling and improve resident experience.

Whale is on a mission to modernize one of the largest and least efficient pools of capital in housing: the tens of billions of dollars held as apartment security deposits. Today, these funds often sit idle in escrow or property accounts, creating significant compliance and administrative obligations for property managers while placing unnecessary financial strain on renters.

"The solution to the security deposit problem isn't to eliminate deposits-it's to reinvent how they're managed," said Jamie Petraglia, Founder and CEO of Whale and a 25-year veteran of finance and real estate. "Whale creates a true win-win: landlords stay fully protected, renters retain ownership of their money, and deposits finally work as a tool for financial wellness and education rather than friction. We're excited to partner with Camber Creek, which shares our conviction that housing should work better-for both the people who live there and the teams who operate it."

Whale replaces this outdated system with a simple but powerful approach. Renters retain ownership of their security deposit in a lockable, high-yield, FDIC-insured savings account, while property operators are granted guaranteed access to the funds when needed. Security deposits legally belong to residents-even when held by landlords-which is why state and local regulations exist to protect those funds. As a Registered Investment Advisor governed by the Securities and Exchange Commission, Whale brings deposits back where they belong: in accounts owned by residents, offering yields up to seven times the national average, full visibility into their funds, and instant access upon move-out.

"Many companies have attempted to modernize security deposits," said Alexandra Nicoletti, a Partner at Camber Creek. "Most rely on insurance or surety-style models that charge renters a recurring, non-refundable fee without actually transferring risk away from the resident. If damages occur, those providers still pursue the renter to recover damages, leading many residents to believe they're protected when they're not. Whale stands apart in both the scale of the market it's addressing and the clarity and elegance of its solution."

For property owners and operators, Whale eliminates the administrative burden, compliance risk, and operational complexity traditionally associated with collecting, holding, and returning security deposits-without disrupting existing leasing workflows.

"Jamie and the Whale team are uniquely equipped to solve a problem that's been hiding in plain sight for decades," said Adam Pase, Co-founder and General Partner at Stackpoint, the venture studio that helped build Whale. "Security deposits represent tens of billions of dollars that create real friction for landlords while keeping renters' capital frozen. Whale is unlocking that value and creating win-wins in a compliant, operator-friendly, and renter-first way. We're excited to partner with Camber Creek as Whale enters its next phase of growth."

332 S Michigan Ave Suite #121- 2234
Chicago, IL 60604
www.gowhale.com
press@gowhale.com

About Whale
Whale is transforming security deposits into a pathway for financial growth with the first high-yield savings account designed specifically for renters-allowing them to earn while they rent. At the same time, Whale removes security deposit management entirely from property owners' plates, saving time, reducing risk, and ensuring compliance.

About Camber Creek
Camber Creek is a global investment firm focused on driving innovation across the real estate industry. With approximately $1 billion in assets under management, the firm partners with and scales technology companies that are reshaping how real estate is owned, operated, and experienced.

This release was published on openPR.