Tax Guard, a data-based support platform for credit risk, has received an undisclosed investment from private equity firm Falfurrias Capital Partners.
Founded in 2009, Tax Guard uses data services to provide lenders with an accurate method to assess tax-related credit risk of potential borrowers. Through the platform, lenders can access real-time insights into a client’s hidden tax liabilities, which is usually unavailable until the IRS files a tax lien.
Colorado-based Tax Guard helps to report, monitor and resolve all risk issues, including payment plan verification, collateral protection services, missing tax returns and unpaid federal debts without liens, among others.
Falfurrias Capital Partners co-founder Marc Oken said, “Tax Guard has been a pioneer in identifying and successfully leveraging the opportunity presented by the growth of ‘shadow’ tax liabilities and the complications they create for lenders in underwriting debt.
“Tax Guard is well positioned for significant growth organically and through complementary investments, and we look forward to working with Hansen and his team to scale the business by providing new technology and data solutions to financial services providers.”
As part of the transaction, Capital Bank co-founder and former CFO Chris Marshall will join Tax Guard as executive chairman. Falfurrias Capital Partners co-founder Marc Oken and principal Geordie will join the company’s board along with former Bank of America CFO Joe Price.
Earlier in the month, cryptocurrency portfolio and tax management platform CoinTracker closed its Seed round on $1.5m. The company supports tax processes by tracking all transactions through exchanges and syncing balances.
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