Tim Janssen, the retired president of IFS (Innovative Funding Services LLC), passed away on Aug. 14 in Largo Vista, Texas. He was 55.

Janssen founded IFS in 2007 and served as president of IFS for more than 12 years until his retirement on Jan. 1. The company, headquartered in Cedar Park, Texas, began as a full-service auto loan finance company that financed the purchase of company cars coming out of fleet.

At the time of Janssen’s retirement, it provided financing for off-fleet, off-lease and vehicle refinance transactions. IFS works with a network of lender partners to provide auto loans for refinancing, lease buyouts and company vehicle purchases. IFS operates in 50 states and has more than 140 employees.

Prior to IFS, Janssen was vice president of Fourth Fleet Financial, which he also helped found. He worked at Fourth Fleet Financial from 2002 to 2006.

Earlier in his career, Janssen worked in business development at The Cobalt Group and prior to that was chief operating officer for Leasebanc. Janssen started his automotive career in 1988 when he joined Ford Motor Credit. He worked at Ford Motor Credit for eight years.

Janssen received an MBA from the University of Wisconsin Oshkosh and a Bachelor of Science degree in sociology from the University of Wisconsin Madison.

Janssen's wife, Kaaren Anderson Janssen, who was co-founder of IFS, passed away earlier in May 2016. Both are survived by sons Mitchel and Robert. Tim is survived by his parents, Mitch and Helen Engleman; his sister Julia Janssen Feig; and his brother David; all of whom lived in Appleton, Wisconsin. Janssen grew up in Appleton and was an ardent University of Wisconsin and Green Bay Packers fan.