Fintech company Tally shuts down due to funding challenges

Tally, a fintech startup founded in 2015, has closed after nine years of helping consumers manage and pay off credit card debt. CEO Jason Brown announced on LinkedIn that despite efforts, Tally couldn't secure funding to continue operations. Initially, Tally offered lower interest loans to manage high-interest credit card debt but pivoted to B2B in April, citing a partnership with a major consumer company. However, no further details were revealed.

Tally, based in San Francisco, raised $172 million in funding, including an $80 million Series D in 2022 led by Sway Ventures. Despite a peak valuation of $855 million, the company had 183 employees at closing. TechCrunch has reached out for more information.

Source: TechCrunch