Axxelist CEO Marie Ffolkes Identifies Market Opportunity in Rental Friction
I had the privilege of interviewing Marie Ffolkes, a highly successful CEO who has developed a keen eye for market inefficiencies and growth. Marie’s extensive career included serving as the CEO of private equity sponsored TriMark, the largest commercial kitchen provider nationally with over $2.4 billion in revenue and #1 in its sector, and leading large divisions as President of the Americas for Air Products, a Fortune 500 company. Throughout her distinguished 28-year business career, Marie has consistently demonstrated a keen ability to identify opportunities for improving business outcomes. Having relocated 24 times throughout this journey, her personal experiences with relocation led to her discovering a significant gap in the residential rental market.
“I’ve experienced the stress of finding a rental home firsthand,” Marie explains. “Even though I had relocation specialists, I saw the inefficiency and stress of finding a home, including filling out countless paperwork and applications for different units, tour delays and timeline restrictions, resulting in multiple touch points. It felt like there had to be a better and more efficient way of finding a rental home.” That frustration is what led Marie to create Axxelist.
In the U.S., 44 million households rent, affecting around 144 million people. “Over 90% of them had to go through 20+ touch points, and typically renters interact with 3-5 people in their rental journey, including viewing the property online, making an offer, performing background and credit checks, going for an in-person tour, and then paying moving fees. The process is fragmented, and keeping track of everything is challenging,” Marie explains. Axxelist is a platform that is transforming the rental market by solving these inefficiencies and fragmented processes.
The Axxelist platform streamlines the entire rental process for renters, landlords and realtors/agents. Renters can schedule in-person, self-tours, Make an Instant®RENT Offer, complete digital applications, undergo background checks, and sign leases all through a single, integrated platform / app.
Axxelist simplifies the listing process for property owners and managers by reducing administrative tasks such as property listing, background checks, lease signing and move in payment. Axxelist also provides them with valuable insights about their potential residents. The platform tracks detailed analytics on property viewings often overlooked in traditional rental processes, such as the time spent touring a unit and patterns in viewing times and rental decisions. “As a landlord, you might not know how many people visited, when they came, or why they chose to rent or not,” Marie explains.“ Axxelist captures this critical data for landlords.”
Marie has identified University Housing as a key initial target market, leveraging her business strategic background and new market entry experience. “I saw a real need among college students, who are tech-savvy and looking for an easier way to find housing that fits their unique needs,” Marie explains. “It’s the perfect group for early adoption. Our app will alleviate their concerns and put their anxious parents more at ease.”
Axxelist has already caught the attention of notable Venture Capital investors. The company was selected for the 2023 TechStars accelerator program powered by JP Morgan, beating out more than 99% of applicants. It has also gained attention from major property management companies, including one with 600,000 units. “They are very interested in Axxelist, and they’re very confident that this app is addressing a critical gap in the rental space,” Marie notes.
Looking ahead, Axxelist is now focused on scaling its customer acquisition efforts while enhancing the platform with AI-powered property matching and subletting features, further simplifying the complexity of finding rental homes. “My goal is for people to seamlessly rent at their convenience, eliminating the back-and-forth. Hassle-free rentals. And provide improved ROI for property owners and managers. Our vision of an easier, more efficient way to rent is now a reality,” says Marie.
Axxelist is a SaaS marketplace and mobile app that connects landlords and renters. Renters can view available listings, schedule in-person self-tours, Make an Instant®RENT Offer, and complete a simple, digital application. Once the landlord approves, both can sign an e-lease, and the tenant pays right in the app. It’s a turnkey end-to-end rental co-pilot app.
