Tally, a nine-year-old fintech that helped shoppers handle and repay their bank card debt, has shut down, in response to the corporate.
In a LinkedIn post that was shared earlier Monday, founder and CEO Jason Brown stated the “unhappy and tough” choice to shut Tally down was not the result the corporate had “hoped for,” however that “after exploring all choices,” it was “unable to safe the required funding to proceed our operations.” In response to Pitchbook, Tally was final valued at $855 million and had 183 workers.
Tally’s mannequin was initially designed to assist individuals handle their bank cards and repay high-interest debt by way of a decrease curiosity mortgage that it supplied. However in April, Tally introduced it might be sunsetting its client app and shifting to B2B. On the time, the corporate stated it had a launch companion, a “massive publicly-traded client firm with greater than 50 million customers” that was launching in July. Nonetheless, it by no means adopted up with an announcement naming the corporate.
TheTrendyType has reached out to the corporate for additional particulars.
Based in 2015, San Francisco-based Tally had raised $172 million in funding through the years. In October of 2022, Tally raised a $80 million Sequence D led by Sway Ventures. Andreessen Horowitz led its $50 million Series C round in 2019, which additionally included participation from Silicon Valley heavy hitters akin to Kleiner Perkins, Shasta Ventures, Cowboy Ventures and Sway Ventures.
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