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With the rise of share-based economies and sustainability concerns, a need arises for a convenient and cost-effective way to access items for temporary use. In response to this need, Borrow-It has emerged as an innovative localized rental marketplace facilitating connections between individuals and businesses to save and make money in a sustainable way from underutilized goods. Founded by Alexis Koch and Mark Hahs, Borrow-It is revolutionizing how we think about ownership by providing a platform where sporadically used items can be monetized and shared, benefiting lenders and borrowers alike.
Drawing from his extensive corporate background and professional trajectory, Alexis Koch brings a wealth of experience that profoundly shapes Borrow-It’s overarching vision. He brings over two decades of experience in business and consulting roles, starting with his work in Amsterdam, where he led the establishment of a call center for Nokia cell phones. This project showcased his expertise in large-scale program management and logistics, setting the stage for his subsequent career in the United States.
Upon moving to Chicago, Alexis joined La Salle Bank, where he navigated the complexities of the banking industry during its acquisition by Bank of America. His role in managing the integration process highlighted his knack for bridging IT and business functions, a skill that became increasingly valuable as he ascended to senior leadership positions.
Alexis’s tenure at Bank of America saw him spearheading various corporate programs, including initiatives like “Keep the Change.” These experiences honed his ability to manage large-scale projects and collaborate with diverse teams, ultimately preparing him for his role as the visionary behind Borrow-It.
Although Alexis initially harbored entrepreneurial aspirations in the restaurant industry, his journey took an unexpected turn when he confronted his cluttered garage brimming with seldom-used items that were not worth selling. Rather than allowing these possessions to accumulate dust and depreciate, the idea of renting them out emerged, thereby fostering community engagement within neighborhoods. Thus, Borrow-It was born.
Alongside Alexis is co-founder Mark Hahs, who brings a wealth of experience in technology and entrepreneurship to Borrow-It. With over 30 years of experience, Mark’s journey began with founding one of the earliest web development firms, where he pioneered dynamic websites, such as Jobtrack, which matched job opportunities with candidates. This early success in creating marketplaces set the stage for his subsequent ventures, where he continued to focus on matching people and fulfilling needs.
From developing the first dating site for astrologically matching individuals to facilitating the sale of DVDs through innovative logistics solutions, Mark demonstrated a knack for finding practical solutions to complex problems. His work extended to Fortune 500 companies, where he leveraged technology to drive revenue and achieve business objectives.
Transitioning from corporate collaborations to startup ventures, Mark brought his expertise in strategic planning, resource allocation, and business development to Borrow-It. He contributed valuable resources, market research, and strategic insights, facilitating the development and refinement of Borrow-It’s offerings.
By providing a peer-to-peer rental marketplace, Borrow-It offers an alternative solution that allows individuals and organizations to monetize their underutilized assets and provides others with temporary access to items they may need.
The platform’s focus on enabling both consumer-to-consumer (C2C) and business-to-consumer (B2C) transactions expands its reach and potential offerings. Additionally, by empowering shop owners to create their own digital storefronts, Borrow-It facilitates the process of monetizing items for those looking to generate additional income.
As the concept continued to evolve, the founders recognized the opportunity to introduce a rental comparison tool to the market. Unlike anything currently available, this tool functions like popular travel comparison platforms but for smaller consumer goods such as bikes, lawn equipment, appliances, and more. Leveraging Borrow-It’s proprietary AI-based Rental Fee Comparative Analysis tool, consumers and businesses can compare rental pricing and options within their geographical area to find the best price available.
With Alexis and Mark’s combined expertise in business management, technology, and entrepreneurship, Borrow-It not only addresses the practical challenges of sharing economies but also fosters community engagement and economic empowerment. Through its innovative rental marketplace, Borrow-It moves us toward a more collaborative and sustainable future, where resources are efficiently utilized and communities are strengthened through shared access and mutual benefit. To learn more, visit www.borrow-it.com.
