Rancher Desktop is an open-source desktop application that lets developers run containers and Kubernetes on their own computer. It is built on Electron and wraps tools such as containerd or Docker and Kubernetes behind a simpler interface. On macOS it runs containers inside a virtual machine, and on Windows it uses the Windows Subsystem for Linux. It is installed locally, and its source code is published under the Apache 2.0 licence. The website describes it as an open-source project of the SUSE Rancher Engineering group.
The product is branded Rancher Desktop by SUSE, and the copyright notice on the website names SUSE. SUSE is headquartered in Luxembourg, and it describes itself as an open-source software company based there, so the vendor is located inside the EU. The application runs on the user's own machine and does not depend on a vendor-hosted service. For a European organisation the company is EU-based, and the code can be inspected and rebuilt.