Tally, a fintech company that specialized in helping consumers manage and pay off credit card debt, has sadly announced its shutdown.
In a recent LinkedIn post shared by founder and CEO Jason Brown, it was revealed that despite efforts, the company was unable to secure the necessary funding to sustain operations. With a previous valuation of $855 million and 183 employees, Tally’s closure marks a significant turn of events.
Initially focused on assisting individuals with credit card management and debt repayment, Tally made the strategic decision in April to transition to a B2B model. This shift involved the discontinuation of its consumer app and a pivot towards serving businesses. Although a launch partner was anticipated, no further details were disclosed.
TechCrunch is awaiting additional information from Tally regarding the decision and its implications.
Having been founded in 2015, Tally amassed $172 million in funding throughout its journey. Notable investment rounds included an $80 million Series D led by Sway Ventures in 2022 and a $50 million Series C featuring Andreessen Horowitz in 2019, alongside prominent firms like Kleiner Perkins and Shasta Ventures.
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