Martin and Sheldon tell the story:

  • Martin Urruela (CEO):

    It was 2017 and I was a board member of my homeowner’s association (“HOA”) in Miami. We were constantly struggling to collect delinquent assessments from our members and began to notice that the interests of our attorney who was handling our collections were naturally misaligned with the HOA. Attorney’s bill by the hour, so there is absolutely no incentive for them to achieve a swift and timely resolution, which is all we wanted. Also, it became apparent that they only had one tool in their toolbelt, which is to lien and foreclose. These were my neighbors that owed a couple thousand dollars at most, and the thought of foreclosing on them seemed so drastic and unnecessary. I was shocked to learn this was commonplace across the industry and set out to build a better solution.

  • Sheldon Lewis

    I knew quite a bit about the HOA space through my experience at PayLease. PayLease provides a payments platform for the HOA and property management industry, a significant market, but I always believed collecting delinquent assessments was underserved.

  • Martin

    I first spoke to Blueprint in late 2018 when we had just launched. Given their prior experience in the HOA space, I was excited to meet an investment team that understood the vision and what we were trying to accomplish.

  • Sheldon

    What really stuck out to us was how Axela was leveraging technology and automation to improve the entire collections cycle. What is typically a manual process can be streamlined and thus done at a fraction of the cost. Collections has long been considered an expensive and confrontational undertaking, but not at Axela, which was built around a philosophy that by helping the homeowners, they help the association, and everybody wins.

  • Martin

    In addition to their sector expertise, we also liked Blueprint’s experience in helping scale businesses at exactly our stage. We must get the word out that that we have a new and innovative solution to an age-old problem, and it quickly became apparent that Blueprint would be the right partner to help us along the way.

  • Sheldon

    It has been a privilege to get to know everyone at Axela and we feel lucky to be apart of their journey. The market is ripe for disruption and we are all very excited for what the future has in store.