Investment will drive growth within government jurisdictions and expand payments capabilities
Boca Raton, Florida – December 29, 2021 – Autoagent, a leading provider of data and property tax payment solutions, announced that it has entered a partnership with New York-based Stella Point Capital. The investment is designed to fuel Autoagent’s growth strategy which includes driving further penetration into taxing jurisdictions, expanding its data footprint and scaling its payments revenue stream. Stella Point’s partnership will also drive regional expansion and enable strategic growth through future acquisitions. The leadership team that includes Autoagent’s Founder and CEO, Niko Spyridonos, COO, Yanni Valsamas and CTO, Joe Cipolat will remain in their positions and continue to lead the strategic direction and growth of the company.
Founded in 2001, Autoagent has built a base of more than 600 tax offices and has demonstrated its value within the United States tax payments ecosystem. The company provides easy, simple-to-use software to government agencies for streamlined and error-free property tax collection in exchange for usage of its platform and access to real-time tax data. It collects revenue on the real-time data provided to lenders, property managers and other stakeholders and on electronic tax payments made by property owners. Autoagent is uniquely positioned at the intersection of software, data and government payments with significant potential for future growth.
“Autoagent represents an opportunity to partner with a strong, talented management team that has been instrumental to the company’s success by demonstrating a proven track record in innovative data software and tax payment solutions and long-lasting customer relationships,” said Adam Godfrey and Justin Wender, Stella Point’s Co-founders. “Autoagent is an investment that sits squarely in Stella Point’s domain expertise around electronic payments where we have had multiple successful investments, including recent investments in First American Payment Systems and Intermex. We are excited to partner with the Autoagent’s team to continue strategic growth and strengthen its payments offerings.”
“After growing organically by more than 40% since 2016, we felt now was the time to seek a partner to accelerate our growth,” said Niko Spyridonos, CEO and Founder of Autoagent. “Stella Point’s long history in the payments space along with their experience in scaling businesses was the perfect fit for Autoagent’s strategy.”
Autoagent is a patented cloud-based data and software solution that makes processing tax payments easier. Using patented technology, Autoagent™ has proven to eliminate 95% of refunds which save taxing jurisdictions countless hours and costs associated with processing errors.Autoagent™ retrieves fresh tax rolls that reflect current balances, blocks duplicate payments from multiple payers, and delivers accurate electronic payment files that can be imported directly into any of the 24,000 tax offices in the country. Additional information can be found at www.autoagent.com.
About Stella Point Capital
Stella Point Capital is a New York-based private equity firm focused on industrial, consumer, and business services investments. Founded by Managing Partners Justin Wender and Adam Godfrey, the firm actively seeks investment opportunities throughout North America, working closely with management teams to identify strong market positions and achieve transformational growth. Stella Point’s investment team has over 75 years of combined investing and operating experience, encompassing more than 35 investments, at leading global private equity firms. Stella Point provides unparalleled senior level attention and expertise, seeking to cultivate strong relationships with portfolio companies to generate superior investment returns and significant long-term value. Please visit www.stellapoint.com for additional information.